Al Baraka Bank Egypt’s consolidated profit grows 38.34% YoY in 9 months
Updated 11/12/2024 9:17:00 AM
Arab Finance: Al Baraka Bank Egypt (SAUD) recorded a consolidated net profit attributable to the bank of EGP 2.219 billion in the first nine months of 2024, rising by 38.34% from EGP 1.604 billion in the year-ago period, according to the consolidated financial statement filed to the Egyptian Exchange (EGX) on November 12th.
Net interest income hit EGP 4.390 billion during the January-September period, up from EGP 3.236 billion during the same period in 2023.
As per the standalone financial statement, the bank achieved a standalone net profit of EGP 2.225 billion in the nine months ended September 30th, compared to EGP 1.607 billion in the same period last year.
Al Baraka Bank 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, following the Islamic sharia principles, through a network of 32 branches located across Egypt.
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