The company's board of directors decided not to distribute dividends for 2019.
ArabFinance: Arab Company for Asset Management and Development (ACAMD) suffered a net loss of EGP 1,867,301 in 2019, against a net profit of EGP 8,901,610 a year earlier, according to the company's May 12th financial statements filed to the Egyptian Stock Exchange.
In February, the company announced achieving a net profit of EGP 43,900,985 since the company's establishment in 1974.
The company's board of directors decided not to distribute dividends for 2019.
Arab Company for Asset Management provides commercial banking services including deposits, loans, and credit cards, in addition to asset management services including fund management. It owns a land bank in attractive locations across Egypt with a total area of around 588,000 square meters approximately.