Cairo – Mubasher: The extraordinary general meeting (EGM) of Societe Arabe Internationale de Banque (SAIB) has approved a raise in the authorised and issued capital.
The company will increase its authorised capital to $350 million from $200 million and issued capital to $157.5 million from $150 million, according to a bourse filing on Monday.
It is noteworthy to mention that in 2021, SAIB reported a 2% decrease in its net profits after tax to $19.9 million, compared to $20.44 million in 2020.
