Cairo – Mubasher: The shareholders of Abu Dhabi Islamic Bank – Egypt (ADIB Egypt) have approved an EGP 2 billion increase in the paid-up and issued capital to EGP 4 billion from EGP 2 billion.

The capital raise will be distributed over 200 million shares at a value of EGP 10 per share, according to a bourse disclosure. The approval decision was announced during the ordinary general meeting (OGM).

It is worth noting that in January, the bank’s board agreed to the capital hike.

In 2021, ADIB Egypt logged consolidated net profits worth EGP 1.45 billion, an annual leap of 21% from EGP 1.19 billion.