Al Baraka Bank achieves significant performance in profitability indicators during 2024

Al Baraka Bank - Egypt has been able to achieve a remarkable rise in its profitability indicators over the past year. This is in light of the Bank's continued strong performance in the Egyptian banking sector under the leadership of Hazem Hegazy, Chief Executive Officer, Vice Chairman and Associate Team. 

The following analysis reviews the Bank's development in 2024: 

Al Baraka Bank Egypt's separate financial statements, which ended on December 31, revealed that the bank was able to achieve a rate of return on its average equity of 27.02% in 2024, compared to 25.68% in 2023. 

The Bank's average return on assets increased to 2.64% in 2024, compared to 2.37% in 2023. 

The rise in the averages of "return on equity" and "return on assets" at Al Baraka Bank - Egypt was the result of the Bank's remarkable rise in net profits after registering growth of 35.43% and an increase of 788 million pounds, registering 3.012 billion pounds in 2024, compared to 2.224 billion during 2023. 

This led to a rise in the share share of the Bank's net profits, after the earnings per share grew by 38.46% over the past year, with the Bank's share of its net profits reaching around Pound3.60 per share in 2024, compared with Pound2.60 in 2023. 

Overall, Al Baraka Bank recorded remarkable growth in its main financial indicators over the past year, with the bank's net return income rising by 36.74% over the past year, to 5.98 billion pounds in 2024, compared to 4.37 billion pounds in 2023.

In terms of the bank's financial position, its assets grew at a growth rate of 27.22% and an increase of 27.34 billion pounds over the past year, reaching 127.79 billion pounds by the end of 2024, compared with 100.45 billion by the end of 2023. 

The bank's equity portfolio also increased by 29% and an increase of 2.82 billion pounds over the past year, registering 12.56 billion pounds by the end of 2024, compared to 9.74 billion by the end of 2023. 

The bank's total finances and facilities amounted to about 60.60 billion pounds by the end of 2024, compared to 43.73 billion by the end of 2023, to register growth of 38.59% and achieve an increase of 16.88 billion pounds during the past year.