Cairo – Mubasher: The board of directors of Faisal Islamic Bank of Egypt approved a disclosure form to proceed in its capital raise procedures.
The board decided to increase its issued and paid-up capital by $66.02 million to $506.2 million from $440.19 million through issuing 0.149 bonus share for every share held, according to a bourse statement on Monday.
Earlier, the bank's shareholders decided to increase the bank’s issued and paid-up capital by 15% through the issuance of bonus shares to be financed by retained earnings.
For the full-year 2019, the bank reported net profits of EGP 2.71 billion, compared to EGP 2.51 billion in the prior year.
