Cairo – Mubasher: The board of directors of Commercial International Bank (CIB) has recommended the distribution of cash dividends worth EGP 1 per share for 2018, according to a bourse filing on Tuesday.

Last month, the Listing Committee at the Egyptian Exchange (EGX) had approved to raise CIB’s issued capital to EGP 14.5 billion from EGP 11.6 billion through bonus shares distribution.

Earlier this day, CIB reported a 27% year-on-year rise in profits for the full-year 2018, registering EGP 9.58 billion, up from EGP 7.53 billion in 2017.

Net income surged to EGP 18.14 billion last year from EGP 12.5 billion a year earlier.

Meanwhile, standalone profits climbed to EGP 9.55 billion during the period between January to December 2018, versus EGP 7.55 billion in 2017.