Egypt-based SAIB, NCH, GB Corp declare dividends for 2023

Egypt-based financial institution Societe Arabe Internationale De Banque (SAIB) announced its decision to distribute cash dividends of $0.5 per share to its shareholders for the fiscal year 2023. This move follows the bank's 3% year-on-year increase in net profits after tax, reaching $31.156 million. Established in 1976, SAIB Bank offers a range of retail, corporate, and investment banking services across Egypt and internationally, including Islamic banking solutions.

Similarly, the National Company for Housing for Professional Syndicates, a real estate development firm based in Egypt, declared a cash dividend of EGP 10 per share, totaling EGP 160 million, during its ordinary general meeting for 2023.

Meanwhile, GB Corp, a prominent automotive company in the Middle East, approved the distribution of dividends amounting to EGP 217.1 million, equivalent to EGP 0.20 per share, for the same period. Despite an 81.1% year-on-year decline in consolidated net profits attributable to the parent company in 2023, totaling EGP 1.891 billion, GB Corp maintains its position as a key player in the automotive sector, operating across various segments in Egypt and beyond.