Egyptian Gulf Bank
EGBE
-0.62%
0.32
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EGBE
Cairo – Mubasher: The Egyptian Gulf Bank (EG Bank) announced that its shareholders approved a bonus issue of 1% of divisible profits in 2020.
The shareholders decided to split the payment of the dividend in two tranches: the first one (5% of paid-up capital) is worth EGP 181.18 million and the second one is worth EGP 295.68 million, the bank said in a bourse disclosure on Monday.
In a bid to strengthen the bank’s capital, shareholders approved a decision to retain earnings and issue bonus share
In 2020, the lender posted net profits of EGP 627.11 million, down from EGP 659.53 million a year earlier.
Source:
Mubasher