Cairo – Mubasher: Suez Canal Authority (SCA) increased its equity ownership in Suez Canal Bank to 3.42% from 0.001%, according to a bourse disclosure.
SCA purchased 15.76 million shares in the EGX-listed lender for EGP 238.87 million, at an average price of EGP 15.15 per share.
Al Ahly Pharos for Securities Brokerage was the broker for the transaction that was concluded on 21 August 2024.
In the first half (H1) of 2024, the lender posted higher consolidated net profits at EGP 1.80 billion, compared to EGP 628.04 million in H1-23.
