The ordinary general meeting of Qatar National Bank (QNB) – Al Ahli, Egypt subsidiary of Qatar’s QNB, approved the balance sheet, financial statements and income statement for the fiscal year that ended on December 31, 2014.

Shareholders also gave a nod to the board’s proposal for dividend distribution for FY14.

The EGX-listed bank posted 30.5% rise in FY14 profit to EGP 2.32 million.

Meanwhile, the bank’s extraordinary general meeting (EGM) endorsed an increase in issued and paid-in capital from EGP 5.6 billion to EGP 6.4 billion.

The EGP 841.6 million increase, to be financed from general reserve, will be distributed pro rata on shareholders as bonus shares.

Photo Credit: Arabianeye-Reuters