Thursday 27 Feb
The Financial Regulatory Authority (FRA) has approved the publication of the disclosure report of Commercial International Bank Egypt (CIB) regarding the capital increase.
The FRA stated in a disclosure yesterday, Wednesday, that the disclosure report includes an increase in issued and paid-up capital from EGP 30.43 billion to EGP 30.71 billion, an increase of EGP 276.93 million, with 27.69 million shares at a nominal value of EGP 10 per share.
This is to make available the shares due to employees and
managers for the year 2021, which represents the sixteenth year of the bank's
employee incentive and reward program through a promise to sell.
Commercial International Bank (CIB Egypt) achieved a net
profit of EGP 55.25 billion in 2024, compared to EGP 29.67 billion in profits
during 2023, taking into account minority rights.
The bank's net income from return increased during the past year to EGP 91.06 billion, compared to more than EGP 52.92 billion during 2023.
