Al Baraka Bank tops the fastest-growing listed banks in net fees and commissions income during 2024

Al Baraka Bank achieved remarkable growth in its net income from fees and commissions over the past year, jumping to 861.281 million pounds in 2024, compared to 411.801 million pounds in 2023, a growth of 109.15%.

This strong performance led Al Baraka Bank to be topped by the "First Bank" list of banks listed on the Egyptian Stock Exchange that grew fastest in net income from fees and commissions in 2024.

Revenues from the Bank's fees and commissions jumped to 974.612 million pounds in 2024, compared to 479.855 million pounds in 2023, a growth of 103.11% and an increase of 494.757 million pounds.

As for fee and commission income, it rose by 66.53% over the past year, recording 113.331 million pounds in 2024, compared to 68.054 million pounds in 2023.

Overall, Al Baraka Bank performed well over the past year, rising its net profit to 3 billion pounds in 2024, compared to 2.2 billion pounds in 2023, a growth of 35.42%, and an increase of 787.813 million pounds.

The bank's pre-tax profits rose by 26.32% and an increase of 895.078 million pounds, recording 4.295 billion pounds 2024, compared to 3.400 billion pounds in 2023.

At the bank's financial position, the asset portfolio rose by 27.22% and an increase of 27.341 billion pounds over the past year, registering 127.788 billion pounds by the end of 2024, compared to 100.447 billion pounds by the end of 2023.

Customers' deposit portfolio climbed to 106.6 billion pounds by the end of 2024, compared to 85 billion pounds by the end of 2023, with a growth rate of 25.37% and an increase of 21.6 billion pounds.

The total Musharaka, Mudaraba and Murabaha transactions with customers of the Bank's customers jumped by 38.59% to 60.602 billion pounds by the end of 2024, compared to 43.727 billion pounds by the end of 2023.

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