Dubai - Mubasher: The ordinary general meeting (OGM) of Mashreq Bank has approved a capital raise to AED 2.006 billion by issuing bonus shares.

The bank will increase its capital by issuing 13% of bonus shares totaling 23.079 million units based on the existing nominal value of AED 10 per share, according to a bourse filing on Thursday.

It is noteworthy to mention that during the first nine months of 2021, the bank recorded a 24.7% decline in net profits attributable to the owners to AED 265.071 million from AED 352.024 million in the year-ago period.