Egypt: Al Baraka Bank Egypt targets $97mln profits by end-2024: CEO

The bank also aims to open seven new branches across the Egyptian governorates in 2024, Hegazy said

Staff Writer, Arab Finance

March 5, 2024

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Al Baraka Bank Egypt is planning to garner EGP 3 billion in net profits by the end of the current year, the bank’s CEO Hazem Hegazy told Asharq Business.

The bank also aims to open seven new branches across the Egyptian governorates in 2024, Hegazy said.

Moreover, Hegazy revealed three key challenges facing the banks, which are the Egyptian economic risks, strong competitiveness between Islamic banks, and the increasing risks that require meticulous selection of clients.

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