ArabFinance: The board of directors of Societe Arabe Internationale de Banque (SAIB) has proposed the distribution of cash dividend worth a total of $5 million, equivalent to $0.333 per share, according to a statement filed to the Egyptian Exchange (EGX).

This amount represents 3.33% of the bank’s issued and paid-up capital.

The proposal is subject to the approval of the Central Bank of Egypt (CBE).

It is worth noting that SAIB recorded a net profit after tax of $19.933 million in 2021, down by from $20.441 million in 2020.

Established in 1976, SAIB Bank is engaged in the provision of retail, corporate, and investment banking products and services through a network of 21 branches located across Egypt and abroad. It also offers Islamic banking products and solutions through its branches.