Friday, 20 Apr 2018
Business

Egyptian Stock Exchange – Egyptian Credit Distribution Company (EFIC) distributed EGP 174.4 million

Egyptian Company for Credit Inquiries Dividends EGP 174.4 Mn Source: News & Events News & Events News & Events News & Archives News & Events News & Events News & Egyptian Stock Exchange Today Mohamed Kafafi, Chairman of the Board of Directors, said that the Ordinary General Meeting of the Egyptian Credit Bureau (I-Score) met on Sunday, April 15, 2018, to discuss the results of the financial year 2017. The results showed that the company’s profits for the previous fiscal year increased 44% to LE 67.8 million compared to LE 46.8 million, an increase of 21 million pounds. The total assets at the end of the fiscal year amounted to 259 million pounds, compared to 219 million pounds at the end of 2016, an increase of 40 million pounds. Growth of 18%. The General Assembly approved a dividend of 100% of paid-up capital for the previous fiscal year. It should be noted that the cash dividends of the shareholders since the establishment of the company amounted to 174.4 million pounds equivalent to 387.5% return on paid up capital. The year 2017 witnessed the efforts of the Egyptian Credit Information Company to keep abreast of the economic and banking developments in Egypt by providing new services in addition to the transferable securities registry service, which contributes to improving Egypt’s ranking in the World Bank’s Doing Business report, Which is the first system based entirely on data collected from projects operating in Egypt and not based on data from outside Egypt, in addition to the ongoing investments in the development of the company’s infrastructure according to the latest technical systems available. Based on the company’s appreciation of the importance of education and health in building the community, it has supported some universities and hospitals with computers and various equipment to support and modernize the work environment in them. The tripartite strategy 2017-2019 is in line with the requirements of the banking market in particular and the financial market as a whole, while working to raise awareness of the credit culture. Luma News is a news search engine and Loma News disclaims its full responsibility for the contents of the news or images, but it is the responsibility of the original publisher of the news and source. The original publisher also bears the copyright and intellectual property rights of the news. This news was automatically transmitted and not by one of the editors of the site If you have the news and you want to delete it, please refer to the original source of the news first, and then write to us to delete the news. We welcome any communication regarding the news published in the follower, because we are a neutral site and welcome all opinions.

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