Cairo – Mubasher: The membership committee at the Egyptian Exchange (EGX) has approved listing the Egyptian Gulf Bank (EG Bank) as a main trader on the stock market in accordance with the committee's rules.
Pharos Research had previously set its fair value (FV) for EG Bank’s stock at $1.10, implying an ‘Equalweight’ recommendation.
The financial indicators of the bank showed a 7% year-on-year increase in consolidated profits for the first quarter of 2018, recording EGP 146.3 million from EGP 136.9 million.
EG Bank’s capital amounts to $342.8 million distributed over 342.8 million shares at a par value of $1 per share.
