Cairo – Mubasher: The ordinary general meeting (OGM) of Al Baraka Bank-Egypt has agreed to distribute 71.42% bonus shares from the paid-up capital by granting 0.714 bonus share for every owned share.
The total value of the bonus shares will stand at EGP 2.12 billion, which will increase the bank’s capital to EGP 5.08 billion, according to a recent bourse disclosure.
It is worth noting that Al Baraka Bank-Egypt’s board approved the capital hike from EGP 2.96 billion through bonus shares last February.
In 2021, the bank recorded consolidated net profits worth EGP 1.13 billion, lower than EGP 1.26 billion in 2020.
