CREDIT AGRICOLE EGYPT
GENERAL ASSEMBLY OF SHAREHOLDERS
31ST MARCH 2022
Proposed Appropriation for the year ended 31 December 2021 based on CBE instructions
*********************** | |
31 December | |
2021 | |
Net profit for the year | 1,592,460 |
Deduct:Banking general risks reserve | (535) |
Deduct:Profit on sale fixed assets | (48,914) |
Distributable Income | 1,543,011 |
Retained earnings at beginning of the year | 4,833,160 |
Deduct: | |
Capital increase from Retained earnings | (3,627,935) |
Total | 2,748,236 |
Appropriated as follows: | |
Legal reserve | 77,177 |
Shareholders' profit distribution | 925,000 |
Employees' profit share | 146,583 |
Banking Sector Support & Development Fund * | 15,430 |
Retained earnings at end of the year | 1,584,046 |
Total | 2,748,236 |
- According to Article 178 of the Central Bank and Banking Sector's Law No. 194 for year 2020, to deduct an amount not exceeding 1% of the distributable year's net profits for the benefit of the Support and Development the Banking Sector
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Crédit Agricole Egypt SAE published this content on 08 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 March 2022 09:20:00 UTC.