Egypt’s Commercial International Bank plans to issue dividend of 0.5 Egyptian pounds per share for 2016

Cairo: Egypt’s Commercial International Bank (CIB), Egypt’s largest listed company, said on Wednesday its board recommends a cash dividend of 0.50 Egyptian pounds ($0.0265) per share for 2016.

The CIB board also approved a Tier 2 capital loan of up to $300 million (Dh1.1 billion), the bank said in a bourse statement, adding that the float of the Egyptian pound November 3 had resulted in a fall in the value of its assets and commitments in foreign currencies amounting to 325 million pounds.