Al Baraka Bank of Egypt To Appoint Misr Insurance New Member Representative

Al Baraka Bank of Egypt has approved to appoint Mohy El-Din Ibrahim a representative of Misr Insurance company (Non-Life) in the Bank’s Board Members according to the current session of the council, rather than Ali El Shenawy who will finalize its members in the coming September.

The Bank’s profits hit a record around jumping 17% , move up by EGP 79.3 million by June end 2013, compared to EGP 67.8 million in 2012.

The financial statements have revealed that the deposits portfolio of customers up EGP 4.8 billion in June-end 2013, compared to EGP 14.4 billion in December 2012, whereas Customers’ Murabaha (cost-plus financing) , speculations and posts recorded around EGP 6.9 billion in the same period.