alBaraka Bank tops listed banks in focusing on savings certificates by June-2023 end
First Bank
alBaraka Bank topped First Bank list of listed banks with the highest focus on savings and deposit certificates by the end of last June. The portfolio of savings and deposit certificates accounted for 34.97% of the bank's total customer deposits by the end of the same period.
alBarka Bank manages a large portfolio of savings and deposit certificates, reaching EGP27.49 bn by the end of the first half of 2023, up from EGP26.45 bn by the end of 2022, with a growth rate of 3.93% and an increase of EGP1.04 bn.
As for total portfolio of customer deposits at the bank, it increased from EGP 74.42 bn by the end of 2022 to EGP 78.61 bn by the end of June 2023, with a growth rate of 5.63% and an increase of EGP4.19 bn.
Overall, alBarka Bank has performed well this year, with the bank's net profit increasing by about 30.26% to reach EGP 1.02 bn during the first half of 2023, compared to EGP783.11 mn during the same period in 2022, an increase of EGP236.93 mn.
Total financing and credit facilities increased by a growth rate of 9.57%, achieving an increase of EGP 3.4 bn during the first half of this year, recording EGP38.7 bn by the end of June 2023, compared to EGP35.4 bn by the end of 2022.
The bank's total assets increased by a growth rate of 7.49% during the first half of this year, reaching EGP93.8 bn by the end of June 2023, compared to EGP87.2 bn by the end of 2022, an increase of EGP6.5 bn.
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