The Export Development Bank of Egypt (EBE) obtained the approval of the Egyptian Exchange’s (EGX) listing committee to raise its issued and paid-up capital to EGP 6.60 billion from EGP 5.60 billion.
The listed bank will increase its capital by EGP 1 billion, which will be distributed over 100 million shares at a nominal value of EGP 10 per share.
The committee greenlighted the transaction during its meeting that was held on 25 October 2023, according to a bourse statement.
In the first half (H1) of 2023, EBE logged consolidated net profits after tax valued at EGP 1.25 billion, higher than EGP 612.94 million in H1-22, including non-controlling equity.
Net interest income enlarged to EGP 2.40 billion in H1-23 from EGP 1.25 billion in the year-ago period.
As for the standalone business, the bank’s net profits after tax hiked to EGP 1.20 billion in the January-June 2023 period from EGP 605.52 million a year earlier.