ICEC

Al Baraka Bank-Egypt H1 net profit grows 30%

Al Baraka Bank-Egypt, part of Bahraini Islamic lender Al Baraka Group, reported on Tuesday a 30 percent annual growth in its first-half net profit.

The bank has made a net profit worth around 410.9 million Egyptian pounds ($23 million) through the six months to June, compared with 315.99 million pounds last year.

Assets rose 15.5 percent to 58.057 billion pounds at the end of June, compared with 50.278 billion pounds at the end of December 2017.

The bank made a second quarter net profit of 213.4 million pounds, 33.5 percent up from 159.9 million pounds last year.

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