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Al Baraka Bank – Egypt gets financial regulator approval for capital raise
Published in Amwal Al Ghad on 10 - 03 - 2021

The Egyptian Financial Regulatory Authority (FRA) approved the publication of a disclosure form submitted by Al Baraka Bank – Egypt to raise its capital.
The bank's the board of directors decided to increase its authorised capital to 10 billion Egyptian pounds from 2 billion pounds
In addition, the issued and paid-up capital will also be raised to 2.97 billion pounds from 1.85 billion pounds through the issuance of 159.63 bonus shares at a nominal value of 7 pounds apiece, totalling 1.11 billion pounds.
The 0.6-for-one bonus issue will be funded from the divisible profits shown in the financial statements for 2020, amounting to 1.42 billion pounds.


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