Bahrain’s Al Baraka bank seeks to up its Egypt unit budget in 2020

Bahraini Islamic lender Al Baraka Group plans to increase the budget of its Egyptian unit to 100 billion Egyptian pounds ($5.6 billion) in 2020, an official said on Thursday.

The bank’s budget in Egypt currently stands at 61 billion pounds.

“We aim to reach a market share of 15 percent in Egypt in the next five years, up from 7 percent,” Al Baraka Group’s chief executive Adnan Yousif told Amwal Al Ghad.