alBaraka Bank’s net profit jumps by 20.45%, records EGP 444 mn At Q1-2023

The Separate Financial Statements of alBaraka Bank -Egypt, which ended on March 31, 2023, revealed an increase in the bank’s net profit, with a growth rate of 20.45%, to record EGP 444.036 mn during the first quarter of 2023, compared to EGP368.647mn during the same period of 2022 .

Total loans and facilities to customers increased by a growth rate of 7.31% during the first quarter of 2023, with an increase of EGP2.586 bn, to reach EGP 38 bn at the end of March 2023, compared to EGP 35.4 bn at the end of December 2022.

The bank’s total deposit portfolio increased by a growth rate of 1.40% during the first quarter of this year, after the bank was able to increase its deposits by EGP1.042 bn, to record EGP75.5 bn at the end of March 2023, compared to EGP 74.4 bn at the end of December 2022.

Total assets of the bank increased by 6.97% during the first quarter of this year, to record EGP 93.3 bn at the end of March 2023, compared to EGP87.2 bn at the end of December 2022, an increase of EGP6.076 bn.