The Egyptian Gulf Bank (EGB) is targeting EGP 230 million in profits in 2015, the bank said in a bourse statement.  

Meanwhile, EGB seeks to increase its capital by $14.15 million from $233.6 million to $247.7 million.

The capital increase will be affected through issuing 14.152 million bonus shares at $1 par value each, funded by the distributable profits.

Shareholders will get 0.0605933168 shares for each existing share.

The lender posted net profits of EGP 206.52 million ($27 million) for 2014, compared with EGP 190 million ($25 million) for the previous year.