Home MoneyFinancial Institutions Delta Insurance hikes authorised capital to 500 million Egyptian pounds

Delta Insurance hikes authorised capital to 500 million Egyptian pounds

by Eslam Abdelhameed

Delta Insurance’s extraordinary general assembly has endorsed a planned increase of its authorised capital to 500 million Egyptian pounds ($30.8 million), sources in the firm said on Monday.

“We have also approved to raise our current issued and paid-in capital to 126 million pounds from 120 million pounds,” the official source told Amwal Al Ghad.

During the financial year 2018/2019, Delta Insurance’s net profit climbed 48.3 percent to 135.79 million pounds from 91.55 million pounds during the financial year 2017/2018.

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