Cairo – Mubasher: The consolidated net profit after tax of Al Baraka Bank-Egypt hit EGP 445.68 million in the first quarter (Q1) of 2023, an annual surge from EGP 369.38 million, including minority interest.
Net income from funds hiked to EGP 1.02 billion in Q1-23 from EGP 720.95 million in Q1-22, according to the interim financial results.
The basic earnings per share (EPS) reached EGP 0.49 during the first three months (3M) of 2023, higher than EGP 0.45 in the year-ago period.
Total assets enlarged to EGP 93.26 billion in Q1-23 from EGP 87.13 billion as of 31 December 2022, while the customers' deposits widened to EGP 75.41 billion from EGP 74.31 billion.
Standalone Business
The EGX-listed lender achieved standalone net profits after tax amounting to EGP 444.03 million as of 31 March 2023, a year-on-year (YoY) leap from EGP 368.64 million.
Non-consolidated net income from funds jumped to EGP 1.05 billion in 3M-23 from EGP 719.37 million in 3M-22.
The total standalone assets climbed to EGP 93.30 billion as of 31 March 2023 from EGP 87.22 billion as of 31 December 2022, while the customers' deposits increased to EGP 75.46 billion from EGP 74.41 billion.
Last year, Al Baraka Bank-Egypt posted consolidated net profits after tax valued at EGP 1.74 billion, higher than EGP 1.12 billion in 2021, including non-controlling equity.
