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NBK Egypt proposes EGP 188m dividends for 2017

NBK Egypt proposes EGP 188m dividends for 2017
The bank has retained EGP 2.05 billion for 2017
NBK
NBKE
-0.26% 19.05 -0.05

Cairo – Mubasher: National Bank of Kuwait of Egypt on Thursday said that total proposed cash dividends for shareholders amounted to EGP 187.5 million for 2017 profits.

Meanwhile, the proposed dividends for employees stood at EGP 150.31 million, compared to EGP 82.53 million in 2016, the bank added in a filing to the Egyptian Exchange (EGX).

The lender has retained EGP 2.05 billion for 2017, versus retained profits of EGP 1.43 billion a year earlier.

Given that NBK Egypt has reported a 77% year-on-year surge in standalone profits for 2017, with a net profit totalled EGP 1.5 billion, compared to EGP 848.9 million in 2016.