Commercial International Bank - Egypt said its Board of Directors has proposed the distribution of cash dividend for 2014 at EGP1.1 billion.

The lender has achieved net profit of EGP3.7 billion ($485 million) for 2014, with growth of 23.3% from EGP3.7 billion ($393 million) for 2013.

 
Meanwhile, the board has suggested increasing the bank’s issued and paid-in capital from EGP9.2 billion to EGP11.5 billion.

The EGP2.3 billion increase of the company’s capital will be affected through the distribution of 224.9 million bonus share that will be financed from the bank's general reserves.

The bonus share distribution will be effected at 1-for-4.