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Al Baraka Bank Egypt’s H1 profit rises YoY

Al Baraka Bank Egypt’s H1 profit rises YoY

ArabFinance: Al Baraka Bank Egypt (SAUD) announced it has achieved a consolidated net profit of EGP 611.88 million in the first half (H1) of 2021, compared to EGP 543.67 million in the year-ago, according to the bank’s financial statements.

Meanwhile, the bank’s standalone net profit stood at EGP 620.62 million in H1 2021, compared to EGP 540.66 million in the same period of 2020.

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, in accordance with the Islamic sharia principles, through a network of 32 branches located across Egypt.

 

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