Abu Dhabi Islamic Bank Egypt Agrees to Capital Increase
Shareholders approve raising paid-up capital from 6 billion to 12 billion Egyptian pounds.
The General Assembly of Abu Dhabi Islamic Bank – Egypt has approved a proposal to increase its issued and paid-up capital from 6 billion Egyptian pounds to 12 billion Egyptian pounds.
This capital increase entails a free share issuance totaling 6 billion Egyptian pounds, which will be distributed across 600 million shares.
The Assembly confirmed that the funding for this capital increase will be sourced from the bank’s net profits for the fiscal year ending December 2023. This equates to one new share for each existing share held by shareholders.
The bank reported a significant increase in profit for the year 2024, with earnings surging by 92.8% year-on-year, totaling 9 billion Egyptian pounds after accounting for minority interests.
This capital increase entails a free share issuance totaling 6 billion Egyptian pounds, which will be distributed across 600 million shares.
The Assembly confirmed that the funding for this capital increase will be sourced from the bank’s net profits for the fiscal year ending December 2023. This equates to one new share for each existing share held by shareholders.
The bank reported a significant increase in profit for the year 2024, with earnings surging by 92.8% year-on-year, totaling 9 billion Egyptian pounds after accounting for minority interests.
