Cairo – Mubasher: The shareholders of Export Development Bank of Egypt (EBE) approved a proposal to increase the issued and paid-up capital to EGP 3.27 billion from EGP 2.72 billion.
The bank’s capital will be raised by EGP 545.6 million through the issuance of 54.56 million bonus shares at a nominal value of EGP 10 apiece, according to a bourse disclosure on Monday.
In addition, the bank’s extraordinary general meeting (EGM) approved a decision to increase the authorised capital to EGP 10 billion from EGP 5 billion.
During the first half (H1) of fiscal 2020/2021, the bank’s net profits declined to EGP 409.65 million, compared to EGP 602.81 million in the prior-year period, including minority shareholders’ rights.
