Faisal Islamic Bank of Egypt’s (FAIT)(FAITA) extra-ordinary general meeting approved on Saturday the capital hike and amending articles (7) of the bank’s articles of association, as per a Sunday bourse filing.
The authorized capital will amount to $1 billion, up from $500 million, while the issued capital will rise to $440.19 million, up from $366.8 million.
The capital will be distributed over 440.19 million shares, instead of 366.8 million shares.
During the first half of 2019, Faisal Islamic Bank of Egypt’s net profits grew to EGP 1.376 billion, compared to EGP 1.34 billion in the prior-year period, according to the bank’s standalone financial statements.
Year-on-year, revenues increased by 9.8% to EGP 4.575 billion in the six-month period ended 30 June from EGP 4.168 billion.
Source Zawya