Tuesday, May 13/2025 – 10:41 am
The Board of Directors of the Commercial International Bank – Egypt (CIP) decided to increase the issued and paid -up capital from 30.7 billion pounds to 33.77 billion pounds.
The Commercial International Bank decides to increase the capital to 33.77 billion pounds through free shares
The bank explained in a disclosure of the stock exchange today, Tuesday, that the increase of 3.07 billion pounds distributed over 307.08 million shares with a nominal value of 10 pounds per share, to issue free shares funded by the general reserves according to the financial lists ending in March 2025.
And the distribution of free shares resulting from the increase of an share of each 10 shares with the algebra of fractures for the benefit of small shareholders, after obtaining the approval of the Egyptian Central.
She added that the procedures for the increase will be followed after completing the approvals related to increasing the issued and paid capital with shares of composition and motivation of workers and managers of the sixteenth SIM bank.
It is noteworthy that the Commercial International Bank – Egypt (CIP) recorded a net profit of 16.63 billion pounds during the period from January to the end of March 2025, compared to 11.92 billion pounds in the comparative quarter of 2024, taking into account the rights of the minority.
The bank’s net income from the return during the period of time increased to 25.39 billion pounds, compared to 18.8 billion pounds in the same quarter of the previous year.
On the level of unacceptable lists, the net profit of the independent bank increased during the first three months of this year to 16.59 billion pounds, compared to 11.94 billion pounds in the same period in 2024.
