Arab Finance: Declare The Egyptian Gulf Bank (EGBE), On the approval of the Ordinary General Assembly, held in February 20, 2025On the distribution of profits achieved for the fiscal year ending on December 31, 2024. The total distribution profits amounted to 3.461 billion pounds, compared to 1.768 billion pounds in the previous year, through the Egyptian Stock Exchange statement.
The association decided to distribute a first segment of profits to shareholders by 5% of the paid -up capital, equivalent to 275.275 million pounds, followed by a second segment of the same value, bringing the total cash distributions to 550.55 million pounds, representing 10% of the paid capital. This second slide will be distributed in the form of free shares, while keeping the rest of the profits as detained profits.
In this context, the association agreed to increase the issued capital from 510.106 million dollars to 520.985 million dollars, an increase of 10.879 million dollars (equivalent to 550.55 million pounds). This increase will take place through the release of 10.879 million free shares, at 0.02135 shares per original share, funded by the profits of the fiscal year 2024.
The association also approved the distribution of cash dividends for the shareholders of 0.588 pounds per share, provided that these distributions are implemented within three months from the date of the association’s decision. The Assembly delegated the Board of Directors to take the necessary measures in coordination with the Egypt Clearing, Deposit and Central Registration Company to ensure the implementation of distributions at the specified dates.
The Egyptian Gulf Bank was established by an Egyptian joint stock company, according to Ministerial Resolution No. 296 on October 14, 1981, and the bank provides services, retail banking and investment in the Arab Republic And all of this was reflected in the addition of a value to the Egyptian market.
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