Cairo – Mubasher: The board of directors of Credit Agricole Egypt decided to amend the dividend distribution proposal to EGP 3.42 per share from EGP 4.55 per share.

The proposal will be referred to the bank’s shareholders for approval, according to a bourse disclosure on Tuesday.

The board also approved the resignation of Michel Mathieu from his position as the non-executive vice chairman, representing Credit Agricole SA.

It is noteworthy to mention that the bank’s net profits rose to EGP 2.36 billion in 2019 from EGP 2.2 billion in 2018.