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Al Baraka Bank-Egypt posts 28% higher profit in H1-22

Al Baraka Bank-Egypt posts 28% higher profit in H1-22
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Al Baraka Bank
SAUD
-0.24% 12.80 -0.03

Cairo – Mubasher: Al Baraka Bank-Egypt’s consolidated net profits hiked by 27.9% year-on-year (YoY) during the first six months (6M) of the year, reaching EGP 783.11 million, compared to EGP 611.88 million.

Earnings per share (EPS) came in at EGP 2.57 in the first half (H1) of 2022, compared to EGP 2.01 in H1-21, according to a bourse disclosure on Thursday.

Net interest income for H1-22 amounted to EGP 1.60 billion, up from EGP 1.35 billion in H1-21.

In the second quarter (Q2) of 2022, the lender generated EGP 413.73 million in net profits, a rise from EGP 342.56 million in the year-ago quarter. EPS totalled EGP 1.36 in Q2 of the year, compared with EGP 1.12 in the corresponding quarter in 2021.

In the meantime, net interest income jumped to EGP 885.96 million over the April-June period in 2022, compared with EGP 719.84 million in the same period in 2021.

Noteworthy to mention, during Q1-22, consolidated net profits of Al Baraka Bank-Egypt increased by 37% annually to EGP 369.38 million.