An increase of 18.3% in the net profit of Al Baraka Bank in Egypt during the first 9 months of 2018
Tuesday 06 November 2018
Books – Mustafa Eid:
The results of the Al Baraka Bank net profit in Egypt for the first nine months of this year increased by 18.3% compared to the same period of 2017.
The bank issued a net profit of 632.4 million pounds during the first nine months of 2018 compared to 534.7 million pounds during the same period last year.
The net profit of 1.3% in the third quarter increased to the EGP 221.5 million compared to EGP 218.7 million during the same quarter last year.
Bank revenues increased from Murabaha, Mudarabat, Musharaka and revenues similar to LE 5.1 billion during the first nine months of this year compared to LE 3.6 billion during the same period of 2017, a 41% increase.
In the first nine months of 2018, the Bank achieved revenue and EGP fees and 193.2 million EGP compared to EGP 175.1 million in the same period last year, an increase of 10.3%.
Customer deposits with the bank increased by 8.3 billion pounds during the nine months of this year, reaching 52.5 billion pounds at the end of September compared to 44.2 billion pounds at the end of December 2017.
The appreciation, quotes and bank investors increased during the first nine months of 2018 by LE 1.3 billion, reaching around 15 billion pounds at the end of September compared to around 13.7 billion pounds at the end of a month Last December
Bank investments in government securities at the end of last September were 10.1 billion pounds compared to 6 billion pounds at the end of last December, an increase of 4.1 billion pounds in 9 me.