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EBE's shareholders approve capital raise to EGP 5.27bn

EBE's shareholders approve capital raise to EGP 5.27bn
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Cairo – Mubasher: The ordinary general meeting (OGM) of Export Development Bank of Egypt (EBE) has approved an increase in the issued and paid-up capital to EGP 5.27 billion from EGP 3.27 billion.

The capital will rise through a rights issue of 200 million shares at a nominal value of EGP 10 per share, according to a bourse filing on Monday.

It is noteworthy to mention that in the first quarter (Q1) of fiscal year 2021/2022, the bank recorded net profits of EGP 155.08 million, up from EGP 125.24 million in the year-ago period.