What are the most profitable branches of alBaraka bank ?

alBaraka Bank achieved a good performance during the current year, as its net profit jumped by 20.45%, to record EGP444.04 mn during the first quarter of 2023, compared to EGP 368.65 mn during the same period of 2022, an increase of EGP75.4 mn.

The net profit of alBaraka bank came during the first quarter of this year through its various branches, which reached 33 branches, by the end of March 2023.

The bank's 18 branches in Cairo were the most profitable, as the bank’s net profit reached EGP 683.71 mn during the third quarter of 2023, compared to EGP439.64 mn during the same period in 2022, with a growth rate of 55.51%, and an increase of EGP244.07 mn.

Net profit from its 8 branches in Giza was the fastest growing, as it jumped 86.94%, to record EGP 148.56 mn during the first quarter of 2023, compared to EGP 79.47 mn during the first quarter of 2022, an increase of EGP 69.09 mn.

The bank's profits from its 5 branches in Alexandria recorded EGP68.73 mn during the first three months of this year, compared to EGP40.83 mn during the same period in 2022, with a growth rate of 68.33%, and an increase of EGP27.9 mn.

Moreover, the bank’s profits from other governorates recorded EGP87.42 mn during the first quarter of 2023, compared to EGP46.86 mn during the same period in 2022, with a growth rate of 86.57%, and an increase of EGP40.56 mn.

As for the bank’s main office, it paid taxes reached EGP 271.868 mn during the first quarter of 2023, which represents a cost in the bank’s financial statements (and the expenses were also higher than its revenues), which made total net profit of  EGP444.04 mn during the first 3 months of the current year.