alBaraka Bank continues its expansion policy, increasing its resource employment rate to 91.59% by 2023-End

Al Baraka Bank achieved a remarkable increase in its resource employment rate to jump to 91.59% by the end of 2023, compared to 81.74% by the end of 2022, continuing its expansion under Hazem Hegazy, the bank's chief executive officer.

This indicator, introduced by the research center affiliated with First Bank, measures the traditional resource employment rate (deposits + Equity) in (loans + financial investments) for banks operating in the Egyptian banking sector.

This extraordinary performance, achieved by the Bank on the Index in 2023, is due to alBaraka continuing its expansionist policy of utilizing its resources to support its financial results.

The Bank has employed EGP 86.8 bn from its traditional resources, which recorded EGP 94.7 bn by the end of 2023 in loans and financial investments, financial investments amounted to EGP 43.1 bn, and total customer loans accounted for EGP 43.6 bn.

On the other hand, Employing EGP 67 bn of its traditional resources, which recorded EGP 82 bn by the end of 2022 in loans and financial investments, with EGP 31.7 bn for financial investments, and EGP 35.4 bn for total customer loans.

At the end of 2023, the Bank's traditional resources distributed between EGP 85 bn in deposit portfolio and EGP 9.7 bn in equity by the end of the same period.

The Bank's deposit employment rate for granting loans jumped to 51.34% by the end of 2023, compared to 47.5% by the end of 2022, and the deposit employment rate for financial investments increased to 50.73%, compared to 42.53% by the end of the same period.