Arab Finance: The Financial Regulatory Authority (FRA) has approved publishing the disclosure form submitted by the Suez Canal Bank’s board to raise its issued and paid-up capital by EGP 400 million to EGP 5 billion from EGP 4.6 billion, the authority stated on July 26^th.

The bank announced earlier that its board accredited increasing its issued and paid-up capital by EGP 400 million via the issuance of 40 million shares bonus shares.

In the first quarter (Q1) of the year, the bank posted a 160.58% year-on-year (YoY) increase in net profits,

Suez Canal Bank is an Egypt-based company engaged in providing corporate, retail, and investment banking products and services.

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