Cairo-Mubasher: Société Arabe Internationale des Banques (SAIBANK) said on Sunday it obtained the approval of the ordinary general meeting on the board’s report on the bank’s activity and financial position for the fiscal year 2014.

Shareholders also approved financial statements, as well as the proposed dividend distribution at $16 million, or $1.06 per share, for the same FY.

The bank had posted a 12% rise in FY14 net profit to $34.6 million.