Credit Bank S.A.L Issues Preferred Shares 2015 Series 5
Following Banque du Liban’s approval on the 1st of April 2015, Credit Bank increased its capital by $25.0M through the issuance of 25,000 non-Cumulative Redeemable Preferred Shares 2015 Series 5. The annual dividend will be equivalent to 7% per year of the Issue Price which is $100/share. In turn, and given that those shares won’t be listed on the BSE, dividends will be subjected to a 10% distribution tax. However, the Bank will reimburse the holders of the mentioned shares for a portion not exceeding 5%.
Credit Bank Yearly Financials
| Dec-14 | Dec-13 | |
| Net Loans & Advances to Customers | 1.48 | 1.30 |
| Total Assets | 3002 | 2643 |
| Deposits from Customers | 2590 | 2269 |
| Total Shareholders’ Equity | 211 | 207 |
| Net Interest Income | 62 | 53 |
| Net Profit | 27 | 18 |
Source: BSE
Source: BSE
