Al Baraka Bank-Egypt posted a consolidated net profit after tax of EGP 2.21 billion in 2023, up from EGP 1.74 billion a year earlier.

Customers’ deposits rose to EGP 84.92 billion in 2023 from EGP 74.31 billion in 2022, according to the bank’s financial statements.

Total assets reached EGP 100.36 billion last year, up from EGP 87.13 billion the year before.

The basic earnings per share (EPS) increased to EGP 2.61 during the 12-month period that ended on 31 December 2023, compared to EGP 2.10 in the comparative period in 2022.

Standalone Results

Al Baraka Bank-Egypt recorded a standalone net profit after tax of EGP 2.22 billion in 2023, up from EGP 1.75 billion a year earlier.

Cash Dividends

The bank’s board of directors approved the distribution of EGP 1 billion in cash dividends, or around EGP 1.38 per share, for the fiscal year 2023, which represents 19.65% of the paid-up capital.

The dividends disbursement is subject to approval from the ordinary general meeting (OGM), scheduled to be held on 25 March.

During the first nine months (9M) of 2023, Al Baraka Bank-Egypt recorded net profits after tax worth EGP 1.60 billion, versus EGP 584.67 million in the same period a year earlier.

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