Al Baraka tops fastest growing bank in net fees and commissions income during Q1-2025

Al Baraka Bank recorded a remarkable growth in its net income from fees and commissions, as it increased by about 87.6%, reaching 259.51 million pounds during the first quarter of this year, compared to 138.32 million pounds during the same corresponding period in 2024.  

This strong performance prompted Al Baraka Bank to top the «First Bank» list of the fastest growing banks in net income from fees and commissions during the first quarter of 2025.

Revenues from fees and commissions at the bank increased to 298.88 million pounds during the first 3 months of 2025, compared to 158.65 million pounds during the same period in 2024, with a growth rate of 88.4%.

As for fees and commission expenses, they increased by about 93.6%, recording 39.37 million pounds during the first quarter of 2025, compared to 20.34 million pounds during the same period in 2024.

It is worth noting that Al Baraka Bank announced the results of the first quarter of this year, which revealed a growth in its net profits at a rate of 72.78% and an increase of 404 million pounds, after recording 959 million pounds during the first 3 months of 2025, compared to 555 million pounds during the same period in 2024.

The bank's profits before taxes increased at a growth rate of 49.69%, with an increase of 447.1 million pounds during the first quarter of 2025, to record 1.365 billion pounds, compared to 918.2 million pounds during the first quarter of 2024.

The bank's net income from revenue rose to 1.810 billion pounds during the first quarter of 2025, compared to 1.337 billion pounds during the first quarter of 2024, growing at a rate of 35.37% and achieving an increase of 472.9 million pounds.

In terms of the bank’s financial position, its total assets increased at a growth rate of 5.10% and an increase of 6.5 billion pounds during the first quarter of this year, reaching 134.3 billion pounds by the end of March 2025, compared to 127.8 billion pounds by the end of 2024.

The customer deposit portfolio jumped at a growth rate of 5.62% during the first quarter of this year, recording 112.6 billion pounds by the end of March 2025, compared to 106.6 billion pounds by the end of 2024.

The total Murabaha, Mudaraba and Musharaka of the bank’s clients increased at a growth rate of 7.06% during the first quarter of 2025, to record 64.9 billion pounds by the end of March 2025, compared to 60.6 billion pounds by the end of 2024.

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