Al Baraka Bank Egypt’s consolidated profits rise 30.5% YoY in H1
Updated 8/13/2024 10:37:00 AM
Arab Finance: Al Baraka Bank Egypt (SAUD) reported a 30.57% year-on-year (YoY) increase in consolidated profits excluding minority interest during the first half (H1) of 2024, recording EGP 1.331 billion, compared to EGP 1.019 million, according to financial statements filed to the Egyptian Exchange (EGX) on August 13th.
Net interest income soared to EGP 2.857 billion during the first six months of 2024 from EGP 2.181 million in the same half of 2022.
The bank’s standalone profits after tax rose to EGP 1.336 billion in the six-month period ended June 30th, from EGP 1.020 million.
Al Baraka Bank Egypt is an Egypt-based commercial bank and part of Al Baraka Banking Group, a Bahraini joint-stock company.
The bank is engaged in the provision of retail, corporate, and investment banking solutions, in accordance with the Islamic Sharia principles, through a network of branches located across Egypt.
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