Housing and Development Bank's board proposes bonus issue

The proposal includes a one-for-10 bonus issue

Cairo – Mubasher: The board of directors of Housing and Development Bank (HDB) recommended a bonus issue for 2020’s earnings.

The proposal includes a one-for-10 bonus issue valued at EGP 126.5 million, the bank said in a bourse disclosure on Sunday.

The decision is pending shareholder approval on 31 March.

During 2020, the lender achieved net profits of EGP 2.06 billion, down from EGP 2.22 billion a year earlier.

Source: Mubasher

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