By: Islam Fadl
Cairo – Mubasher: Banque du Caire plans to raise its issued capital by EGP 1 billion before the end of 2019, the bank’s chairman Tarek Fayed said.
Accordingly, the lender’s capital base will be increased to EGP 11 billion, Fayed noted at the sidelines of a conference on Tuesday, adding that the state-run bank’s issued capital exceeds EGP 2 billion.
Fayed affirmed that the bank will go public on the Egyptian Exchange (EGX) as scheduled before by the end of 2019 or early 2020.
During the first half of 2019, Banque du Caire’s profit before taxes amounted to EGP 2.5 billion from EGP 1.91 billion in H1-18.
