Cairo-Mubasher: The Egyptian Gulf Bank’s (EG Bank) board of directors decided to carry on with the procedures to increase the capital, upon the ordinary general meeting’s (OGM) last April to distribute retained earnings worth EGP 452.36 million as bonus shares on shareholders.
In its recent statement to the Egypt Exchange (EGX), EG Bank stated that the board of directors shall decide on the increase in value and number of shares later on.
It is worth to mention that EG Banks owns a capital worth $365.36 million, divided on 365.36 million shares at a nominal value of $1 each.
Based on the standalone financial statements of the first quarter of 2019, the bank has registered EGP 145.78 million net profits, compared to EGP 136.53 million in the corresponding period last year.
