alBaraka Bank’s financial efficiency indicators evolution during 2023
First Bank
alBaraka Bank improved its financial efficiency indicators during the last year, The following analysis highlights bank's development in financial efficiency indicators from January to December 2023.
The separate financial statements of alBaraka Bank, which ended on December 31, 2023, revealed that the bank achieved a return on average assets of 2.37% during 2023, compared to 2.07% during 2022.
The return on average equity (ROE) recorded 25.68% during 2023, compared to 25.83% during 2022.
alBaraka Bank's net profits increased with a growth rate of 27%, reaching EGP 2.224 bn during 2023, compared to EGP 1.755 bn during 2022, an increase of EGP 469 mn.
In terms of earnings per share, the bank recorded a growth rate of 24.3% during the period from January to December 2023, with the bank's share of net profits reaching about EGP 2.61 per share during 2023, compared to EGP 2.10 during 2022.
The bank's asset portfolio increased by 15.2% during the last year, reaching EGP 100.45 bn at the end of December 2023, compared to EGP 87.23 bn at the end of December 2022, an increase of EGP 13.22bn.
In addition, the bank achieved a growth of 28.4% in its Equity during 2023, as it increased from EGP 7.59 bn at the end of December 2022 to EGP 9.74 bn at the end of December 2023, an increase of EGP 2.15 bn.
