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CIB files with EGX for capital top-up

CIB files with EGX for capital top-up
Photo Credit: Arabianeye-Reuters
CIB
COMI
-3.05% 80.00 -2.52

Cairo - Mubasher: The Egyptian Exchange (EGX) said it is studying a request received from Commercial International Bank (CIB) - Egypt for capital increase.

Earlier, CIB's board gave a nod to raise the bank issued and paid-in capital from EGP 11.471 billion to EGP 11.538 billion, up by EGP 68 million distributed across 6.8 million shares.

The capital hike came in the framework of applying the employees’ incentives program.

CIB posted an increase of 32% in net profits for the first nine months of 2015.