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Suez Canal Bank to distribute 20M free shares

Suez Canal Bank to distribute 20M free shares

ArabFinance:  Suez Canal Bank (CANA) will distribute 20 million shares at a par value of EGP 10 per each, according to the bank’s statement filed to the Egyptian Exchange.

The bank will increase the issued and paid-in capital to EGP 2.2 billion from EGP 2 billion financed from 2019’s profit.

The listed bank issued 15 bonds and sukuk worth EGP 2.8 billion.

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

The bank's range of banking products includes direct and indirect finance, loans, social funds, deposits, savings, credit cards, issuance of letters of guarantee, and other Islamic banking services, in addition to technical, economic, financial, administrative, and consultative services.

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