The group's share of equity increased by 4 per cent from the year-end position in 2017, as a result of
retained profits.
According to the new protocol, TE will receive EGP 5.5bn in two tranches: EGP 4.8bn in March and EGP 0.7bn in June 2020, which represent 82% of the
retained profits.
The capital top-up was funded from the statuary reserves and the
retained profits, according to the bank's financial statements in June 30, 2016.
The society's balance sheet is 100% funded by retail and business savings and
retained profits, meaning it has no reliance on the wholesale money markets to fund either asset growth or mortgage lending.
Capitalization indicators have strengthened over time with increase in equity base on account of
retained profits; resultantly Tier-1 and overall CAR have increased.
QAR 3.5 for each share, and the bonus share issue, together with the transfer of the necessary amounts from the
retained profits to the legal reserve for this reserve to become 100 per cent of the capital (excluding issue fees).
The work, funded through
retained profits and bank loans, is part of a long-term partnership with interior design expert Melony Spencer of Spencer Swinden.
assets and total equity in the ratio to
retained profits for the period under review.
The AGM approved the transfer of BD304,641, the equivalent to 10pc of net profits, to the statutory reserve, and the allocation of BD2,741,764 to
retained profits.
The virtuous way is to rebuild capital through
retained profits, but this takes a time.
He said that Bahraini banks in particular and Gulf and Arab banks in general have better financial solvency than European and western banks as Arab and Gulf banks determine financial solvency on the basis of shareholders rights and
retained profits unlike western banks which determine financial solvency on the basis of other elements that have been superseded by Basil III.
