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Al Baraka Bank Egypt posts 27.9% YoY growth in H1 consolidated profit

Al Baraka Bank Egypt posts 27.9% YoY growth in H1 consolidated profit

Arab Finance: Al Baraka Bank Egypt (SAUD) recorded a consolidated net profit attributable to the bank of EGP 783.11 million in the first half (H1) of 2022, rising by 27.9% from EGP 611.88 million in H1 2021, according to the consolidated financial statement filed to the Egyptian Exchange (EGX) on August 11th.

In the second quarter (Q2) of 2022, the bank recorded a consolidated net profit of EGP 413.74 million, compared to EGP 347.56 million in Q2 2021.

As per the standalone financial statement, the bank achieved a standalone net profit of EGP 783.11 million in H1 2022, compared to EGP 620.62 million 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, in accordance with the Islamic sharia principles, through a network of 32 branches located across Egypt.

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