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Commercial International Bank (CIB), Egypt’s largest listed company, announced 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, the bank said in a bourse statement, adding that the float of the Egyptian pound Nov. 3 had resulted in a fall in the value of its assets and commitments in foreign currencies amounting to 325 million pounds.
($1 = 18.8500 Egyptian pounds)
Source: Reuters
