Cairo – Mubasher: Al Baraka Bank – Egypt on Monday stated that its profits surged 65% in the third quarter of 2017, compared to the year-ago period.

Profits reached EGP 218.7 million in Q3-17, compared to EGP 132.56 million in Q3-16, according to a statement to the Egyptian Exchange (EGX).

Year-on-year, Murabaha’s returns jumped to EGP 1.36 billion in Q3-17, from EGP 906.6 million.

At the level of the first nine months of 2017, the bank’s profits amounted to EGP 534.7 million, compared to EGP 387.9 million in the corresponding period in the year earlier.