FRA thumbs up EGP 1B capital increase for EBank

Updated 6/6/2023 10:19:00 AM
FRA thumbs up EGP 1B capital increase for EBank

Arab Finance: The Financial Regulatory Authority (FRA) has approved the Export Development Bank of Egypt’s (EBank) EGP 1 billion issued capital increase distrusted over 100 million shares at a nominal value of EGP 10 per share, according to an announcement sent to the Egyptian Exchange (EGX) on June 6th.

As per the documents, the bank seeks to increase its issued capital from EGP 5.600 billion to EGP 6.600 billion.

EBank is an EGX-listed bank that offers banking and financial services, which encourage the export activities of the agricultural, industrial, commercial, and services sectors.

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