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CIB to increase capital by 12.27M shares

CIB to increase capital by 12.27M shares

ArabFinance:  Commercial International Bank (CIB) (COMI) will increase the issued capital by 12,271,570 shares, according to the bank’s statement filed to the Egyptian Exchange.

These shares represent the 12th year of the Employees Stock Ownership Plan for the bank’s employees and managers through the “promise to sell” program approved by the Financial Regulatory Authority.

The bank obtained the Financial Regulatory Authority go-ahead to proceed in the capital increase by EGP 10 billion.

CIB provides banking services across the country through more than 200 branches and units. The bank's segments include corporate banking, investment banking, retail banking, treasury and capital market services, and others.

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