REG - Commercial Int Bank - Resolutions Ordinary General Assembly March 2026

Commercial International Bank Egypt CIBAnnouncement

16/03/2026 07:00

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RNS Number : 6754W  Commercial Intnl Bank (Egypt) SAE  15 March 2026

 

http://www.rns-pdf.londonstockexchange.com/rns/6754W_1-2026-3-15.pdf (http://www.rns-pdf.londonstockexchange.com/rns/6754W_1-2026-3-15.pdf)

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Ordinary General Assembly

15 March 2026

 

Resolutions Summary

 

 

Item (1)

 

Board of Directors Report for the Fiscal Year 2025

 

The General Assembly ratified the presented Board of Directors' Report for the
Fiscal Year ending 31/12/2025.

 

Item (2)

 

Governance Report and External Auditors' Report

for the Fiscal Year 2025

 

The General Assembly ratified the presented Governance Report issued by the
Board of Directors for the Fiscal Year ending 31/12/2025 and the associated
External Auditors' Reports.

 

Item (3)

 

External Auditors' Reports for the Fiscal Year 2025

 

The General Assembly ratified the External Auditors' Reports for the Separate
and Consolidated Financial Statements for the Fiscal Year ending 31/12/2025.

 

Item (4)

 

Separate and Consolidated Financial Statements

For the Fiscal Year 2025

 

The General Assembly ratified the separate and consolidated Financial
Statements for the year ending 31/12/2025.

 

 

Item (5)

 

Recommended Appropriation Account

For the Fiscal Year 2025

 

The General Assembly approved the proposed Appropriation Account for 2025
profit share distribution and delegated the Board of Directors to approve the
guidelines for the profit share distribution to the staff for the year 2025.

 

The General Assembly also approved cash dividends payout of EGP 6 per share to
be paid on Thursday, April 9, 2026.

 

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Item (6)

 

Authorization to the Board of Directors

To pay profit share to former employees resigned in 2024

 

The General Assembly approved to authorize the Board of Directors to pay the
amount of EGP 27,542,117 as profit share to former employees who resigned in
2024. The amount is to be deducted from Retained Earnings, in accordance with
the amended 2024 staff profit share distribution guidelines in alignment with
CBE regulations.

 

Item (7)

 

Increasing the Issued and Paid-in Capital

to Fulfill the ESOP "Year 17"

 

The General Assembly approved increase the issued and paid in capital by
(27,203,000) common shares at nominal value of EGP 10 per share, an increase
of EGP 272,030,000, to effect the vesting terms for "Year 17" of the "ESOP",
approved by the Financial Regulatory Authority.

 

The General Assembly also approved amending Articles "6" and "7" of the Bank's
Bylaws to reflect the mentioned increase, subject to the approval of the
Central Bank of Egypt.

 

The General Assembly delegated the CEO & Board Member to fulfill the
capital increases procedural requirements after obtaining the required
approvals, with the right to delegate others in doing so, without prejudice to
the Listing and Delisting Rules and its Executive Regulations issued by the
Financial Regulatory Authority and effected by the Egyptian Stock Exchange,
and also delegated Mr. Mahmoud Abbas Mohamed Ahmed, Chief Legal Officer, to
sign the amendment agreements of the Bank's Statutes at the respective Notary
Office.

 

Item (8)

 

Approve the changes to the Board of Directors' composition

since the previous General Assembly of September 25, 2025

 

The General Assembly noted and approved the changes to the composition of the
Board of Directors that took place since the last General Assembly held
September 25, 2025.

 

 

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Item (9)

 

Discharging the Board of Directors for Fiscal Year 2025

 

The General Assembly approved discharging the Chair and Members of the Board
from all liabilities with regard to the Bank's activities during the Fiscal
Year 2025.

 

 

Item (10)

 

Elect the Members of the Board for the upcoming Board Term

(March 2026 - March 2029)

 

In view of the listed nominees, approved by the Central Bank of Egypt,
presented to the General Assembly for election to serve the new Board Term
(March 2026 - March 2029), the General Assembly approved the new Board of
Directors' composition to be as follows:

 

·    Ms. Neveen Aly Fayek
Sabbour
Non-Executive Chair (Independent)

·    Mr. Amin Hisham Mohamed Amin Ezz Al-Arab             Chief
Executive Officer

·    Mr. Fadhel Abdul Baqy Abulhasan Alqaed AlAli
Non-Executive Director

(representing Alpha Oryx Ltd.)

·    Mr. Aziz
Moolji
Non-Executive Director

(representing Alpha Oryx Ltd.)

·    Ms. Hoda Ahmed Mohamed Mansour ElAskalany
Non-Executive Director (Independent)

·    Mr. Jawaid
Mirza
Non-Executive Director

·    Mr. Burkhard Eckes
 
Non-Executive Director (Independent)

·    Mr. Georgios
Anagnostopoulos
            Non-Executive Director (Independent)

·    Ms. Tanvi
Davda
Non-Executive Director (Independent)

·    Mr. Amr
El-Ganainy
Deputy CEO

·    Mr. Islam
Zekry
Group Chief Finance & Operations

 

 

 

 

 

 

 

 

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Item (11)

 

2026 Proposed Sitting Fees for the Directors of the Board

 

The General Assembly approved the annual net sitting fees of EGP 360,000 to be
paid to each Non-Executive Director for Fiscal Year 2026.

 

 

 

Item (12)

 

Appointment of the Bank's External Auditors

For the Fiscal Year 2026 and Approving their Fees

 

The General Assembly approved the appointment of "Mr. Abdelhadi Mohamed Ali
Ibrahim, Partner, (KPMG Hazem Hassan - Public Accountants & Consultants)"
and "Mr. Hossam El-Din Mohamed Abdallah Hilal, Partner - Baker Tilly Mohamed
Hilal and Wahid Abdel Ghaffar  Legal Auditors & Consultants" as the
Bank's Auditors for the Fiscal Year 2026.

 

The General Assembly approved their total audit fees of EGP 14.7mn (excluding
VAT) for auditing the Bank's annual and quarterly standalone and consolidated
financial statements and issuing related reports.

 

Item (13)

 

Authorization to the Board of Directors

to Approve Donations in 2026

 

The General Assembly approved authorizing the Board of Directors to donate
above EGP 1000 per recipient during the year 2026 in conformity with Article
"101" of the Corporate Law No. 159 of the year 1981.  The General Assembly
also approved the amounts donated during 2025.

 

 

Item (14)

 

Authorization to Non-Executive Directors

To Assume Executive Roles in Other Companies

 

The General Assembly approved authorizing the Non-Executive Directors to
assume full time jobs (technical or administrative) in other shareholding
companies in conformity with Article "95" of the Corporate Law No. 159 of the
year 1981.

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