Cairo – Mubasher: The National Bank of Kuwait-Egypt's (NBK Egypt) board of directors decided to delist the bank's shares from the Egyptian Exchange (EGX).

The voluntary delisting decision will be referred to the bank's extraordinary general meeting (EGM) for approval, according to a bourse disclosure on Tuesday. 

The board also approved the appointment of Prime Capital as an independent financial advisor to assess the fair value (FV) of the bank's stock. 

The disclosure form showed that shareholders owning about 94% of the bank's shares agreed with the voluntary delisting decision. 

During the first quarter (Q1) of 2021, NBK Egypt reported net profits of EGP 404.11 million, slightly up from EGP 402.7 million in Q1-20.