Cairo – Mubasher: The board of Al Baraka Bank-Egypt has approved an increase in the issued and paid-up capital from EGP 2.96 billion to EGP 5.08 billion via bonus shares.

The capital increase is distributed over 302.9 million shares at a nominal value of EGP 7 per share, according to a bourse filing on Thursday.

It is noteworthy to mention that in 2021, the bank's consolidated net profits declined to EGP 1.13 billion, compared to EGP 1.26 billion in the earlier year, including minority shareholders' rights.