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Al Baraka Egypt profit climbs by 36% in 2014

Al Baraka Egypt profit climbs by 36% in 2014
Table Photo Credit: Mubasher
Al Baraka Bank
SAUD
3.18% 12.27 0.38
Al Baraka
BARKA
-6.90% 0.27 -0.02

Al Baraka Bank Egypt announced that its net earnings jumped by 36.1% in 2014.

The bottom line amounted to EGP 225.5 million ($31.6 million) in 2014 compared with a year earlier.

The lender’s total deposits increased by 21.2% year-over-year to EGP 18.8 billion ($2.6 billion), and shareholders’ equity went up 14% to EGP 1.3 billion ($182 million).

Total assets also rose by 22.1% y/y to EGP 22.3 billion ($3.1 billion) at the end of December 2014.

The bank operates with EGP 813.66 million, divided into 116.24 million shares at EGP 7 par value each.