Al Baraka Looks Forward To Increase Branches To 30 By 2013

Al Baraka Bank Egypt targets to increase the number of its branches by seven to reach 30 branches after receiving the Central Bank of Egypt’s (CBE) approval.

The bank targets to launch two new branches before the end of 2012 in Heliopolis and Zamalek as well as five branches in Abbassia, New Maadi and El-Manial in 2013, said Ashraf El-Ghamrawy, CEO of the bank.

Al Baraka Banking Group is optimistic over the Egyptian economy as it has an ambitious expansion plan in the country in the upcoming period, he added.

The bank purchased a new headquarters and a branch in Teseen Road in El Tagamu El Khames (fifth settlement) in New Cairo City with investment cost of EGP 500 million.