ArabFinance: State-run Banque du Caire decided to split the par value of its stock from EGP 4 to EGP 2 per each on December 14th, according to a statement filed to the Egyptian Exchange.
The bank will keep the issued capital unchanged at EGP 5.250 billion distributed on 2,625,000,000 shares instead of the previous 1,312,500,000.
Banque du Caire won an award from Global Finance Magazine for being the best local custodian bank for the year 2020.
Last July, Sanad provided Banque du Caire with a loan worth $15 million (EGP 234.91 million) for on-lending to MSMEs, agricultural producers, and microfinance institutions in Egypt.
The bank has reportedly logged a net profit after tax worth EGP 2.52 billion during the first nine months of 2020.
