Al Baraka bank earnings increase by 20.6% in Q1 of 2023

Al Baraka Bank-Egypt announced on Monday that it has witnessed an increase in its net earnings by 20.6 percent during the first quarter of 2023, as its earnings reached around 446 million Egyptian pounds up from 369.3 million pounds during the same quarter last year.

The net income increased during the first three months of the current year to record 104 million pounds, up from 74 million pounds during the same quarter in the previous year.

Customer deposits grew slightly during the first quarter of this year to 75.4 billion pounds, up from 74.3 billion pounds the year before. The main index rose by four piasters during the first quarter of 2023 to reach 49 piasters.