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EGX halts trading on CIB in response to regulator's request

EGX halts trading on CIB in response to regulator's request
The bank reported net profits of EGP 4.997 billion in six months
CIB
COMI
-3.05% 80.00 -2.52

Cairo – Mubasher: The Egyptian Exchange (EGX) has halted trading on the shares of the Commercial International Bank – Egypt (CIB) based on the request of the Financial Regulatory Authority (FRA), according to a statement on Thursday.

In September, the EGX’s listing committee approved a request by CIB to raise its paid-up and issued capital by EGP 85.99 million to EGP 14.77 billion from EGP 14.69 billion.

During the first half (H1) of 2020, the bank reported net profits of EGP 4.997 billion, down from EGP 5.35 billion in the prior-year period, including minority shareholders’ rights.