CIB Board Proposes LE 1/Share FY Cash Dividend

CAIRO – 1 February 2018: Commercial International Bank’s board purposed fiscal year cash dividend of LE one per share, according to a release of the Egyptian Exchange.

The bank added that the board suggested distributing LE 1.16 billion to shareholders over last year, compared to dividends of LE 576.9 million in 2016.

“CIB seeks to increase the legal allocates by LE 377 million to record LE 1.71 billion, besides rising the general allocates by LE 3.6 billiob to reach LE 12.6 million,” the release pointed out.

Commercial International Bank - Egypt (known as CIB) is a public company, listed on Egyptian Exchange (EGX) since February 1995. CIB operates within the bank’s sector focusing on diversified banks. It has 24 subsidiaries operating across Egypt and United Kingdom. CIB is based in Giza, Egypt and was established in June 1975.

The CIB’s share rose at 11:26 a.m. (Cairo Time) 0.68 percent to LE 78.87.