Al Baraka Bank Egypt’s consolidated profits slip in 2021

Al Baraka Bank Egypt’s consolidated profits slip in 2021

ArabFinance: Al Baraka Bank Egypt’s (SAUD) consolidated financial results showed a decline in net profits excluding minority shares during the full year 2021, according to a statement filed on the Egyptian Exchange on Thursday.

The bank’s consolidated net profits excluding minority shares stood at EGP 1.125 billion in 2021, compared to EGP 1.256 billion in 2020, the statement showed.

Meanwhile, Al Baraka’s standalone results showed that net profits after taxes went down to EGP 1.132 billion last year, from EGP 1.247 billion the year before.

Al Baraka Bank is an Egypt-based commercial bank and part of Al Baraka Banking Group, a Bahraini joint-stock company.

The bank is engaged in the provision of retail, corporate, and investment banking solutions, in accordance with the Islamic sharia principles, through a network of 32 branches located across Egypt.

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