Cairo-Mubasher: Societe Arabe Internationale de Banque (SAIBANK) said its general meeting held on Sunday gave the green light for carrying over profits for the fiscal year ended 31 December 2015.

Shareholders also endorsed financial statements for the same fiscal year, as well as the conclusion of a compensation contract for a subordinated loan with Arab International Bank.

The board earlier proposed cash dividends for 2015 at $20 million (EGP 156.7 million), however they were added to retained profits.