NBK-Egypt’s shareholders ok EGP 5B capital increase
Updated 3/21/2021 12:41:00 PM
ArabFinance: The ordinary general assembly of the National Bank of Kuwait – Egypt (NBK-Egypt) (NBKE) approved to increase the paid-in and issued capital to EGP 5 billion from EGP 1.5 billion, according to the bank’s March 21st statement to the Egyptian Exchange (EGX).
Earlier, the bank’s board of directors approved raising the authorized capital to EGP 10 billion from EGP 2.5 billion.
The bank reported a net profit of EGP 1.44 billion in 2020, compared to EGP 2.168 billion in 2019.
NBK Egypt, formerly Al Watany Bank of Egypt SAE (AWB), is an Egypt-based public shareholding company engaged in the provision of corporate, retail, and investment banking services.
The bank’s financial services and products include trade finance, and commercial and residential mortgages, among others.
