By: Ahmed Allam
Cairo - Mubasher: The ordinary general meeting (OGM) of the Commercial International Bank - Egypt (CIB) has approved raising the company’s capital from EGP 11.6 billion to EGP 14.52 billion.
The capital hike will be funded from the company’s reserves through the distribution of bonus shares at 25%.
The OGM has also approved the board reshuffle since the latest meeting.
The bank’s profits totalled EGP 1.75 billion during the three-month period that ended 30 March 2017, compared to EGP 1.29 billion for the corresponding last year.
