Cairo – Mubasher: The consolidated net profits of Al Baraka Bank-Egypt increased by 37% to EGP 369.38 million in the first quarter (Q1) of 2022, compared to EGP 269.31 million in the same period of 2021.
The bank's net interest income amounted to EGP 720.95 million in Q1-22, up from EGP 636.43 million in the year-ago period, according to a bourse filing on Monday.
As for the standalone businesses, the bank's net profits reached EGP 368.64 million in the first three months (3M) of 2022, higher than EGP 268.08 million in the corresponding period of 2021.
It is noteworthy to mention that in 2021, the consolidated net profits of Al Baraka Bank retreated to EGP 1.13 billion, compared to EGP 1.26 billion in the earlier year, including minority shareholders' rights.
