Faisal Islamic Bank of Egypt (FAIT)(FAITA) decided to increase issued capital from $366,830,586 to $440196703 with an increase amounting to $73,366,117.
The capital hike will be through distribution of 73,366,117 shares, at par value of $1 per share.
The capital increase will be through the distribution of 0.19999999945 free stock for every existing one held before increasing capital to shareholders recorded on 30/10/2019 and will be distributed on 31/10/2019.
Faisal Islamic Bank of Egypt’s volume of business increased to EGP 100.896 billion at the end of Sept. 2019, compared to EGP 87.587 billion in the same period last year, representing 15% growth, the bank stated in a statement sent to EGX.
Additionally, the total assets of the bank increased from EGP 86.059 billion in Sept. 2018 to EGP 98.776 billion in Sept. 2019, representing 14.8% growth.
The current accounts and deposits rose to EGP 82.896 billion in Sept. 2019, compared to EGP 73.516 billion in the same period of the previous year, representing 12.8% growth. The bank accounts reached 1,701 by the end of Sept. 2019.
Source Zawya