Cairo – Mubasher: Al Baraka Bank – Egypt posted on Monday a rise of 120.6% in its profits for the fourth quarter of fiscal year 2016 to EGP 124.5 million, versus EGP 56.43 million for Q4-15.

Profits for fiscal year 2016 increased 93.33% to EGP 512.45 million from EGP 265.07 million for FY15.

Foreign exchange earnings amounted to EGP 16.8 million in 2016, versus EGP 0.5 million for 2015, according to a bourse statement.

By 10:40am Cairo time, the stock rose 3.49% to EGP 9.50.