{"id":326071,"date":"2022-08-29T14:53:03","date_gmt":"2022-08-29T14:53:03","guid":{"rendered":"https:\/\/egy-africa.com\/en\/?p=326071"},"modified":"2022-08-29T14:53:03","modified_gmt":"2022-08-29T14:53:03","slug":"saib-sells-entire-stake-in-pyramids-paper-mills-for-egp-4m","status":"publish","type":"post","link":"https:\/\/egy-africa.com\/en\/2022\/08\/29\/saib-sells-entire-stake-in-pyramids-paper-mills-for-egp-4m\/","title":{"rendered":"SAIB sells entire stake in Pyramids Paper Mills for EGP 4m"},"content":{"rendered":"<p>Societe Arabe Internationale De Banque (SAIB) has completed selling its 8.53% stake in Pyramids Paper Mills (Flora) for EGP 3.85 million.<\/p>\n<p>The EGX-listed lender has sold 110,900 shares in Flora to an investor, according to a stock exchange statement.<\/p>\n<p>Earlier this month, SAIB&#8217;s board of directors agreed to sell the bank\u2019s stake in Pyramids Paper Mills.<\/p>\n<p>It is noteworthy to mention that in the first half (H1) of 2022, the net earnings of SAIB totalled $16 million, up 79% when compared to $8.95 million in the corresponding period in 2021.<\/p>\n<p>&nbsp;<\/p>\n<p>Interest income for the six-month period ended 30 June 2022 fell by 7% during H1-22 to $184.68 million, compared to $197.79 million in H1-21.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Societe Arabe Internationale De Banque (SAIB) has completed selling its 8.53% stake in Pyramids Paper Mills (Flora) for EGP 3.85 million.<\/p>\n","protected":false},"author":2,"featured_media":323947,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[22],"tags":[251],"class_list":["post-326071","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking","tag-saib-bank"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.3 - 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