Al Baraka Bank tops the fastest-growing listed banks in credit card during 2024

Al Baraka Bank's credit card balance portfolio has seen record growth over the past year, jumping by 304.86%, recording 243.035 million pounds by the end of 2024, compared to 60.030 million pounds by the end of 2023.

Thanks to this strong growth, the Bank topped the First Bank list of the fastest growing banks listed on the Egyptian Stock Exchange in credit card during 2024.

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, with 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.

Regarding 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.

For a full list. Click here.