Al Baraka Bank Egypt Eyes 15% Growth Rates, 5 New Branches in 2014

Al Baraka Bank of Egypt is planning to increase its volume of growth rates by 15% within 2014.

Ashraf El Ghamrawy, CEO & Deputy Chairman of Al Baraka Bank Egypt,  told Amwal Al Ghad on Thursday that his bank is aiming to attain growth rates higher by 15% within 2014, compared to 2013 figures.

Al Baraka Bank’s profits grew by 17.1% to EGP 119.3 million through the first nine months of 2013, against EGP 101.9 million for the same comparable period in 2012.

El Ghamrawy further stated that his banks is targeting opening up 5 new branches during 2014.  Al Baraka Bank Egypt has nation-wide 23 branches along with 4 foreign exchange offices.