The ordinary general meeting of Qatar National Bank AlAhli or QNB AlAhli (previously known as NSGB), approved during its meeting on Wednesday, February 26, using EGP 731,834,230 from general reserve to finance increasing the issued and paid-up capital.
Meanwhile, the extraordinary general meeting gave a nod to increasing authorized capital to EGP 10 billion from EGP 5 billion. It also approved using EGP 731,834,230 from general reserve to increase paid-up capital to EGP 5,610,729,150, through bonus share distribution.
The lender had posted 15.8% growth in FY13 net profit to EGP 1,777,544,084, compared with EGP 1,537,903,726.
QNB Al Ahli has recently increased capital from EGP 4,435,359,020 to EGP 4,878,894,920. The EGP 443,535,900 increase was divided into 44,353,590 shares at EGP 10 par value each.