Cairo – Mubasher: Qatar National Bank AlAhli  (QNB AlAhli) on Sunday announced that its ordinary general meeting (OGM) approved distributing a cash dividend of EGP 0.80 per share for 2017 profits, the lender said in a statement on Sunday.

The OGM also endorsed the financial statements for the year ended 31 December 2017, in addition to transferring profits worth EGP 1.9 million from the sale of fixed assets into the capital reserve, the Egyptian subsidiary of Qatar's QNB added.

Moreover, QNB AlAhli’s extraordinary general meeting (EGM) approved increasing the bank’s issued capital to EGP 9.7 billion up from EGP 8.9 billion, according to the statement.

The lender’s profits rose to EGP 5.52 billion in 2017 compared to EGP 4.2 billion a year earlier.