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EG Bank’s shareholders cancel $33.436M capital hike

EG Bank’s shareholders cancel $33.436M capital hike

ArabFinance: The ordinary general meeting (OGM) of Egyptian Gulf Bank (EG Bank) (EGBE) approved canceling a decision taken in March to increase issued capital from $453.05 million to $486.489 million, according to a filing to the Egyptian Exchange (EGX) on Thursday.

The OGM approved the distribution of EGP 378.868 million for the period that ended on June 30th.

It is worth noting that the bank’s consolidated net profit after tax soared to EGP 406.63 million in H1 2022 from EGP 320.201 million in H1 2021.

EG Bank is engaged in the provision of corporate, retail, and investment banking services through a network of 16 branches located across Egypt.

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