Cairo – Mubasher: Al Baraka Bank-Egypt has denied the news reporting that it had submitted an offer to acquire First Investment and Real Estate Development, according to a bourse filing on Sunday.
In a separate statement, First Investment said it has not received any official letters with regard to the circulating news, adding that it will inform the Egyptian Exchange (EGX) of any official offers it receives related to this matter.
In the first half (H1) of 2022, Al Baraka Bank-Egypt’s consolidated net profits hiked by 27.9% year-on-year (YoY), reaching EGP 783.11 million, compared to EGP 611.88 million.
Net interest income during the first six months (6M) of the year amounted to EGP 1.60 billion, up from EGP 1.35 billion in the year-ago period.
