Cairo – Mubasher: Faisal Islamic Bank of Egypt’s board of directors has recommended a cash dividend distribution of EGP 525.7 million to shareholders for 2018.
The board has suggested distributing around 8% of the bank’s profit before tax, according to a statement to the Egyptian Exchange (EGX) on Sunday.
The ordinary general meeting (OGM) will be set on 31 March for discussing the proposal.
It is worth noting that Faisal Islamic Bank of Egypt previously posted standalone profits of EGP 2.519 billion for 2018, versus EGP 1.722 billion a year earlier.
Additionally, the bank’s revenue surged by 20.8% to EGP 8.258 billion last year, versus EGP 6.836 billion in 2017.
