Al Baraka Bank Egypt H1 net profit rises 23.7%

Al Baraka Bank Egypt, part of the Bahraini Al Baraka Group, said on Tuesday its first half net profit rose 23.7 percent from a year ago to 315.994 million Egyptian pounds ($17.7 million).

Net profit stood at 255.290 million pounds during the first half of 2016.

Shariah-compliant finances; Murabaha, Mudaraba, and Musharaka of customers also rose to 13.865 billion pounds at end of June 2017, compared to 13.728 billion pounds last year.

Customers’ deposits reached 38.581 billion pounds from 37.691 billion pounds last year.