Arab Finance: The Suez Canal Bank has decided to increase issued capital by EGP 400 million distributed over 40 million bonus shares, or 0.0869-for-1 bonus shares, at a nominal value of EGP 10 per share, as per a filing on January 29^th.

Thus, the capital shall be raised from EGP 4.6 billion to EGP 5 billion.

The bonus shares will be distributed to shareholders on February 14^th, eligibility in distribution until a record date of February 13^th.

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, and administrative.

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