Cairo – Mubasher: Union National Bank – Egypt (UNBE) has approved the distribution of a 1-for-20 basis bonus shares, or one share for every 20 existing ordinary shares, at the general meeting.

The lender has also approved the annual financial statements and the board of directors’ report for 2017, the UNBE said in a filing to the Egyptian Exchange (EGX) on Sunday.

The EGX-listed bank had previously proposed 5%, or a 1-for-20 basis, bonus shares of paid-up capital for shareholders.