The Commercial International Bank (CIB) (EGX:COMI) decided to distribute a 0.3333 free share for each one held, according to the bank’s statement filed to the Egyptian Exchange.

The group will pay the dividends on August 16th to the shareholders recorded on August 15th.

The company will increase its issued capital to EGP 19,702,417,900, marking a rise by EGP 4,925,604,500 distributed on 492,560,450 shares.

The capital raise will be financed from the 2019 profit.

On May 27th, Talaat Moustafa Group (TMG) (EGX:TMGH) and CIB announced the establishment of a new entity specialized in real estate lending during quarter one of 2021.

CIB provides banking services across the country through more than 200 branches and units. The bank's segments include corporate banking, investment banking, retail banking, treasury and capital market services, and others.