Cairo – Mubasher: Suez Canal Bank reported a 29% year-on-year growth in its net profits to EGP 542.2 million in 2019 from EGP 420.19 million.

The bank’s net interest income rose to EGP 1.24 billion last year, compared to EGP 963 million in 2018, according to a statement to the Egyptian Exchange (EGX) on Monday.

In addition, the lender’s board of directors recommended distributing one bonus share for every 20 shares held, at a total value of EGP 100 million, representing 5% of the bank’s capital.

It is noteworthy that the bank’s capital reaches EGP 2 billion, distributed over 200 million shares at a nominal value of EGP 10 apiece.

During the January-September period of 2019, the bank’s net profits increased to EGP 364.41 million, compared to EGP 330.724 million in the year-ago period.