Cairo – Mubasher: Al Baraka Bank-Egypt recorded a consolidated net profit after tax of EGP 553.27 million in the first quarter (Q1) of 2024, up from EGP 445.68 million in the similar period a year earlier.

Customers’ deposits grew to EGP 94.03 billion in Q1-24 from EGP 84.92 billion at the end of last year, according to interim financial statements.

The basic earnings per share (EPS) hit EGP 0.66 in the three-month period that ended on 31 March 2024, down from EGP 0.49 in the corresponding period of 2023.

Total assets increased to EGP 112.98 billion in Q1-24 from EGP 100.36 billion at the end of December 2023.

Standalone Results

Al Baraka Bank-Egypt reported a standalone net profit of EGP 555.01 million in the January-March period, up from EGP 444.03 million in the comparative period of last year.

In 2023, Al Baraka Bank-Egypt reported a consolidated net profit of EGP 2.21 billion, up from EGP 1.74 billion the year before.