Cairo – Mubasher: Al Baraka Bank-Egypt achieved consolidated net profits after tax worth EGP 1.60 billion in the first nine months (9M) of 2023, up year-on-year (YoY) from EGP 584.67 million.
Net interest income hiked to EGP 3.23 billion during January-September 2023 from EGP 1.05 billion in 9M-22. according to the consolidated financials.
Basic earnings per share (EPS) stood at EGP 1.88 as of 30 September 2023, versus EGP 0.70 a year earlier.
Total assets enlarged to EGP 98.34 billion in 9M-23 from EGP 87.13 billion as of 31 December 2022, while the customer deposits widened to EGP 82.25 billion from EGP 74.31 billion.
Standalone Business
Non-consolidated net profits after tax reached EGP 1.60 billion in 9M-23, marking a YoY jump from EGP 586.99 million.
The bank generated net interest income worth EGP 3.22 billion during the January-September 2023 period, versus EGP 1.05 billion in the year-ago period.
Financials for Q3-23
In the third quarter (Q3) of 2023, Al Baraka Bank-Egypt posted consolidated net profits valued at EGP 1.25 billion, an annual surge from EGP 473.35 million.
The net interest income widened to EGP 2.49 billion in Q3-23 from EGP 892.26 million a year earlier, while the EPS increased to EGP 1.50 from EGP 0.56.
Standalone net profits after tax jumped to EGP 1.25 billion in July-September 2023 from EGP 471.94 million in Q3-22, while the net interest income climbed to EGP 2.49 billion from EGP 887.43 million.
During the first half (H1) of 2023, the EGX-listed lender registered EGP 1.01 billion in consolidated net profit attributable to the owners, higher than EGP 783.11 million in H1-22.
