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Al Baraka Bank-Egypt's profit edges up in Q1

Al Baraka Bank-Egypt's profit edges up in Q1
Net interest income grew to EGP 636.43 million
Al Baraka Bank
SAUD
-0.92% 12.88 -0.12

Cairo – Mubasher: Al Baraka Bank-Egypt recorded consolidated net profits of EGP 269.32 million in the first quarter (Q1) of 2021, slightly up from EGP 264.24 million in the year-ago period, including minority shareholders’ rights.

The bank’s net interest income grew to EGP 636.43 million in the January-March period, compared to EGP 562.18 million in the corresponding period a year earlier, according to a bourse disclosure on Tuesday.

As for standalone business, the lender posted net profits of EGP 268.1 billion in Q1-21, compared to EGP 260.39 million in Q1-20.

Over the course of 2020, the bank achieved net profits of EGP 1.25 billion, up from EGP 1.07 billion a year earlier, including minority shareholders’ rights.