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SAIB's board approves stock dividends

SAIB's board approves stock dividends

ArabFinance: Societe Arabe Internationale De Banque's (SAIB) board of directors approved distributing one free stock for each 10 original stock.

The board’s resolution came based on the ordinary general assembly’s approval regarding the distribution of $7.5 million dividends for the year. 2019.

The bank posted a net profit of $12.391 million, compared to incurring a loss of $19.256 million a year earlier.

SAIB was established in 1976 and listed in 1980, as the first joint Arab Bank working in Egypt to abide by the provisions of the investment law 43 of the year 1974, which was amended in accordance with the investment laws 230/1989 and 8/1997.

The bank executes all banking investment, financial, and commercial matters related to banking investment business and contributes to financing economic, industrial, real estate, agricultural, and commercial projects, as well as Egyptian foreign trade.

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