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EG Bank to distribute bonus shares early February

EG Bank to distribute bonus shares early February
The bank’s issued capital will increase to $390m
Egyptian Gulf Bank
EGBE
0.70% 0.43 0.00

Cairo – MubasherEgyptian Gulf Bank (EG Bank) has announced that it will begin the distribution of bonus shares on Monday, 3 February.

The value of a bonus share will equal 0.069 of a regular share before the increase of the bank’s capital, according to a bourse statement released on Wednesday.

The EGX-listed bank’s issued capital will increase from $356.365 million to $390 million through the issuance of 25.25 million bonus shares.

It is noteworthy that during the first nine months of 2019, EG Bank reported a net profit of EGP 458.1 million, up from EGP 416.47 million in the corresponding period a year earlier.