NSGB Raises Capital To EGP 4.4 Bln

Ordinary General Assembly of National Société Générale Bank approved the suggestion of the Board of directors to raise the Bank’s issued and paid capital by EGP 403.214 million to reach EGP 4.435 billion at rate of one bonus share for every 10 original shares by deduction from the general reserve, according to NSBG’s financial position in December 31st 2011.

NSGB’s achieved net profit of EGP 1.489 billion in 2011 with an increase of 11.4% up from 2010’s net profit which reached EGP 1.337 billion.

Extraordinary General Assembly approved increasing paid up capital as well as amending articles No. 6 and 7 of the bank’s statute.

NSGB capital, issued and paid up, reached EGP 4.03 billion (equivalent to 403.2 million shares) with a nominal value of EGP 10 per share. 277 million shares were paid in Egyptian currency while the remaining 125 million shares were paid in foreign currency at the end of 2011.