Al Baraka Bank Egypt’s Net Profit Hit EGP 135 Mln In 2012

Al Baraka Bank of Egypt’s net profit surged to EGP 135.7 million at the end of 2012, compared to EGP 100.1 million at the end of 2011, registering an increase of EGP 35.6 million (35.6%).

The financial statements showed that the deposit portfolio rose by 13.8%, registering 14.405 billion at the end of 2012, compared to EGP 12.660 billion at the end of 2011, registering an increase of EGP 1.744 billion.

The total value of the bank’s assets reached EGP 16.778 billion at the end of last December, compared to 14.851 billion at the end of 2011, registering an increase of EGP 1.92 billion (12.9%).

The bank’s investments in government debt instruments rose to EGP 4.258 billion at the end of 2012, compared to EGP 3.376 billion at the end of 2011, registering an increase of EGP 822.1 million (26.1%).

The bank’s balances held by the Central Bank of Egypt (CBE) fell by 30.5% to reach EGP 928.475 million at the end of last year, compared to EGP 1.336 billion at the end of 2011.

The bank’s balances held by other banks rose by EGP 96.6 million (117.9%), registering EGP 178.569 million at the end of 2012, compared to EGP 81.931 million at the end of 2011.

The bank raised the value of Murabaha, Mudaraba and Musharaka finances by EGP 874.12 million (14.65%), registering EGP 6.838 billion at the end of 2012, compared to EGP 5.964 billion at the end of 2011.