Al Baraka Bank Egypt's consolidated profits climb 55.36% YoY in 2022
Updated 2/19/2023 2:37:00 AM
Arab Finance: Al Baraka Bank Egypt logged a 55.36% year-on-year (YoY) jump in its consolidated net profits after tax and non-controlling interests during 2022, hitting EGP 1.749 billion, compared to EGP 1.125 billion in 2021, according to the financial statements sent to the Egyptian bourse on February 19th.
Net interest income recorded EGP 3.431 billion last year, compared to EGP 2.761 billion in 2021.
The lender’s standalone net profits after tax stood at EGP 1.755 billion during 2022, compared to EGP 1.32 billion in the year before.
In the same vein, the bank’s customer deposits reached EGP 74.420 billion in 2022, compared to EGP 72.569 billion in 2021, marking a growth rate of 3% YoY.
The bank’s assets increased by 6% YoY last year, hitting EGP 87.225 billion from EGP 82.368 billion a year earlier.
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