The National Bank of Egypt Raises Authorized Capital to EGP 50 BlnSource: www.export-egypt.com 3/1/2017, Location: Africa |
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The National Bank of Egypt (NBE) general assembly decided to increase the bank's authorized capital by 66.7 percent to hit EGP 50 billion, up from EGP 30 billion.
The decision was taken during an extraordinary meeting of the bank's general assembly under Governor of the Central Bank of Egypt (CBE) Tareq Amer. The bank's paid capital will be increased also from EGP 15 billion to EGP 28.65 billion, NBE Chairman Hesham Okasha said. Such decisions aim at strengthening the bank's financial position to help it assume its role in supporting economic projects, he added. |
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