{"id":549165,"date":"2022-09-06T04:00:23","date_gmt":"2022-09-06T04:00:23","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/06\/cib-plans-record-capital-increase\/"},"modified":"2022-09-06T04:00:23","modified_gmt":"2022-09-06T04:00:23","slug":"cib-plans-record-capital-increase","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/06\/cib-plans-record-capital-increase\/","title":{"rendered":"CIB plans record capital increase"},"content":{"rendered":"

<\/a> EGX-listed private sector giant CIB is planning a multi-bn EGP capital increase<\/strong> that would raise its capital by around a third. The bank submitted documents to the EGX yesterday and the bourse is studying the proposal, it said, according to an EGX bulletin<\/a> yesterday.<\/p>\n

The plan:<\/strong> CIB would issue EGP 10 bn in new shares to shareholders, raising its capital to EGP 29.82 bn from EGP 19.85 bn currently. The bank would issue 1 bn shares at EGP 10 apiece to be covered by the general reserves for the period ended 31 December 2021.<\/p>\n

Market reax: <\/strong>Traders didn\u2019t get a chance to respond to the news yesterday because the EGX published the bulletin after the closing bell.<\/p>\n

Earnings: CIB\u2019s net income rose 9% y-o-y to EGP 3.5 bn in 2Q 2022<\/strong> as demand for short-term credit picked up, according to the bank\u2019s latest earnings release (pdf)<\/a>. The bank recorded revenues of EGP 6.9 bn, up 8% from the same period last year. On a 1H 2022 basis, the bank reported net income of EGP 7.8 bn (+28% y-o-y) on revenues of EGP 14.7 bn (+16% y-o-y).<\/p>\n","protected":false},"excerpt":{"rendered":"

EGX-listed private sector giant CIB is planning a multi-bn EGP capital increase that would raise its capital by around a third. The bank submitted documents to the EGX yesterday and the bourse is studying the proposal, it said, according to an EGX bulletin yesterday. The plan: CIB would issue EGP 10 bn in new shares […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7350],"tags":[204,240,68,72],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-549165","post","type-post","status-publish","format-standard","hentry","category-banking","tag-banking","tag-cib","tag-egx","tag-enterpriseam","wpautop","entry"],"acf":{"mongo_id":"1e5711cc-a47d-4f84-ad2d-56dc7c13422e","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[549157],"teaser":"","voice_url":""},"yoast_head":"\nCIB plans record capital increase - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/06\/cib-plans-record-capital-increase\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CIB plans record capital increase\" \/>\n<meta property=\"og:description\" content=\"EGX-listed private sector giant CIB is planning a multi-bn EGP capital increase that would raise its capital by around a third. 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Revenues increased 7% y-o-y during the fiscal year to EGP 17.1 bn. CIB\u2019s planned capital increase gets the all clear: CIB will go ahead with its\u2026","rel":"","context":"In "GO WITH THE FLOW"","block_context":{"text":"GO WITH THE FLOW","link":"https:\/\/enterpriseam.com\/egypt\/category\/go-with-the-flow\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":568853,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/02\/05\/cib-mulls-issuing-up-to-egp-15-bn-in-financial-instruments-to-fund-expansion\/","url_meta":{"origin":549165,"position":1},"title":"CIB mulls issuing up to EGP 15 bn in financial instruments to fund expansion","author":"enterpriseam admin","date":"5 February 2020","format":false,"excerpt":"CIB could issue up to EGP 15 bn in financial instruments to finance its planned expansion, according to a bourse disclosure (pdf). The bank will convene a general assembly on 15 March to review the potential issuance, the statement says. The announcement comes as CIB reported net profits of EGP\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":647984,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/05\/24\/egx-approves-cib-capital-increase\/","url_meta":{"origin":549165,"position":2},"title":"EGX approves CIB capital increase","author":"enterpriseam admin","date":"24 May 2017","format":false,"excerpt":"The EGX approved CIB\u2019s issued and paid-up capital increase to EGP 11.62 bn from EGP 11.54 bn. The capital increase is issued as part of the bank\u2019s stock option compensation plan.","rel":"","context":"In "Banking + Finance"","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":600525,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/31\/egx-approves-issued-capital-increase-for-cib-orascom-development\/","url_meta":{"origin":549165,"position":3},"title":"EGX approves issued capital increase for CIB, Orascom Development","author":"enterpriseam admin","date":"31 January 2019","format":false,"excerpt":"The EGX has approved CIB\u2019s c.EGP 2.92 bn issued capital increase, according to a bourse statement (pdf). 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This came on the back of a 73% y-o-y increase in sales to EGP 12.26 bn.Al Baraka Bank Egypt will increase\u2026","rel":"","context":"In "GO WITH THE FLOW"","block_context":{"text":"GO WITH THE FLOW","link":"https:\/\/enterpriseam.com\/egypt\/category\/go-with-the-flow\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/549165","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=549165"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/549165\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/549157"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=549165"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=549165"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=549165"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=549165"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=549165"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}