Cairo – Mubasher: The general assembly meeting of Commercial International Bank-Egypt (CIB) decided to pay out a dividend of EGP 0.53 per share for 2022.

A total of 2.99 billion shares will be eligible for the cash dividends that will be disbursed on 6 April 2023, according to a bourse disclosure.

Capital Raise

During the same general meeting that was held on 20 March, the shareholders of CIB also agreed to increase the issued and paid-up capital by EGP 204.44 million through 20.44 million shares at a par value of EGP 10 each.

This came after the Financial Regulatory Authority (FRA) greenlighted the capital hike to EGP 30.19 billion from EGP 29.99 billion last month.

In 2022, the EGX-listed bank logged consolidated net profits after tax worth EGP 16.17 billion, up 22% from EGP 13.26 billion in 2021, including minority shareholders’ rights.

Meanwhile, the lender’s standalone profits after tax widened by 20% year-on-year (YoY) to EGP 16.13 billion as of 31 December 2022 from EGP 13.42 billion.