Al Baraka Bank doubles its market share in retail finances under the leadership of Hazem Hijazi

Al Baraka Bank has made an extraordinary leap in the retail banking market, doubling its market share over the past three years, under the leadership of Hazem Hijazi, CEO and Vice Chairman of the Bank.

According to the Bank's separate financial statements, the Bank's market share in retail banking finance rose to 1.10% of total retail finances in the banking sector as a whole by the end of September 2024, compared to 0.41% by the end of September 2021, pushing it to be the second largest Islamic bank in the market.

Despite this increase, he managed to raise the quality rate of the retail banking finance portfolio to 99.39% by the end of September 2024, compared to 97.67% by the end of 2021.

Not only did the Bank achieve this quantitative growth in its portfolio of retail finances, it redefined industry standards by employing artificial intelligence in the design of smart financing solutions, combining technical efficiency and adherence to Islamic banking values.

Hazem Hejazi's strong performance in the retail banking market is not a vacuum, but the result of his cumulative experience over three decades in the Egyptian and Gulf banking sector, especially in the sectors of retail banking, SMEs and risk management.

Al Baraka Bank continues to achieve strong business results, with its portfolio of retail finance jumping by 65.23% over the past year, registering 12.5 billion pounds by the end of 2024, compared with 7.6 billion pounds by the end of 2023, an increase of 4.9 billion pounds, placing second on First Bank's list of the fastest-growing banks on retail finances in 2024.

The significant increase in Baraka Personal Finance portfolio has had a significant impact on the growth of individual finance. Personal finance products accounted for the largest share of retail finance, accounting for about 97.22% of the Bank's total funding to individuals by the end of 2024.

The personal finance portfolio jumped by 65.84% over the past year, registering 12.2 billion pounds by the end of 2024, compared to 7.3 billion pounds by the end of 2023, representing an increase of 4.8 billion pounds, clinching second place on the list of the fastest-growing Egyptian exchange banks in personal finances in 2024.