Al Baraka Bank Egypt records EGP 3B consolidated profits in 2024

Updated 2/17/2025 11:03:00 AM
Al Baraka Bank Egypt records EGP 3B consolidated profits in 2024

Arab Finance: Al Baraka Bank Egypt logged consolidated net profits attributable to the equity holders valued at EGP 3 billion in 2024, an annual leap from EGP 2.217 billion, as per the financial results.

Basic earnings per share (EPS) increased to EGP 3.6 last year from EGP 2.6 in 2023, while the net income from funds soared to EGP 5.991 billion from EGP 4.374 billion.

Total assets hiked to EGP 127.771 billion as of 31 December 2024 from EGP 100.367 billion in end-December 2023, while the customers’ deposits jumped to EGP 106.500 billion from EGP 84.922 billion.

Regarding the standalone business, the net profits after tax climbed to EGP 3.011 billion in 2024 from EGP 2.224 billion in 2023, while the net income from funds rose to EGP 5.976 billion from EGP 4.370 billion.

The board members recommended the distribution of cash dividends totaling EGP 620 million, equivalent to EGP 0.85 per share, for 2024, representing 12.18% of the paid-up capital. The dividends payment is subject to the Central Bank of Egypt’s (CBE) approval.

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