Cairo – Mubasher: The ordinary general meeting (OGM) of the Commercial International Bank – Egypt (CIB) approved a proposal to distribute cash dividends at EGP 1.25 per share for 2019.

The bank’s shareholders also approved the disclosure form to increase its capital by EGP 85.99 million to EGP 14.77 billion from EGP 14.6 billion, according to a bourse filing on Monday.

Moreover, the CIB’s OGM also agreed to raise its issued and paid-up capital to EGP 19.7 billion from EGP 14.77 billion through the issuance of one bonus share for every three shares held.

For the full-year 2019, CIB Egypt reported net profits of EGP 11.8 billion, up from EGP 9.58 billion in 2018, including minority shareholders’ rights.