Cairo – Mubasher: Al Baraka Bank-Egypt posted consolidated net profits valued at EGP 3 billion in 2024, compared to EGP 2.21 billion.
Net income from funds climbed to EGP 5.99 billion last year from EGP 4.37 billion in 2023, according to the financial results.
Basic earnings per share (EPS) increased to EGP 3.60 as of 30 December 2024 from EGP 2.60 a year earlier.
Total assets hiked to EGP 177.77 at the end of December 2024 from EGP 100.36 billion in 2023, while the customers’ deposits increased to EGP 106.50 billion from EGP 84.92 billion.
Non-consolidated Results
The EGX-listed lender achieved a standalone net profit after tax worth EGP 3.01 billion in 2024, up year-on-year (YoY) from EGP 2.22 billion.
Net income from funds amounted to EGP 5.97 billion in 2024, an annual rise from EGP 4.37 billion.
Cash Dividends
The board members proposed cash dividends valued at EGP 620 million, equivalent to EGP 0.85 per share, for 2024.
The cash dividends, which represent 12.18% of the paid-up capital, are subject to the Central Bank of Egypt’s (CBE) approval.
As of 30 September 2024, the consolidated net profits jumped to EGP 2.21 billion from EGP 1.60 billion in the year-ago period.
