Al Baraka Bank Egypt reports 30% higher profit in 9 months

Net interest income rose


Cairo – Mubasher: Al Baraka Bank – Egypt reported consolidated net profits of EGP 1.126 billion in the first nine months of 2020, up by 30.4% year-on-year (YoY) from EGP 863.64 million, including minority shareholders’ rights.

The bank’s net interest income rose to EGP 1.857 billion in the January-September period from EGP 1.466 billion in the corresponding period a year earlier, according to a bourse disclosure on Wednesday.

As for standalone business, the lender posted net profits of EGP 1.120 billion, up from EGP 863.64 million in the year-ago period.

During the first half (H1) of 2020, Al Baraka Bank - Egypt logged EGP 543.67 million in net profits, up from EGP 537.6 million in H1-19.

Source: Mubasher

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