Al Baraka Bank-Egypt’s 2022 consolidated profits hit $56mln; dividends proposed

Al Baraka Bank-Egypt generated EGP 1.74 billion in consolidated net profits after tax in 2022, compared to EGP 1.12 billion in 2021, including non-controlling equity.

Earnings per share (EPS) stood at EGP 2.12 last year, higher than EGP 1.37 in 2021, according to the income statements.

Additionally, the interest income amounted to EGP 3.43 billion in the 12-month period that ended on 31 December 2022, compared to EGP 2.76 billion a year earlier.

The total assets hiked to EGP 87.13 billion in 2022 from EGP 82.28 billion in 2021, while the clients’ deposits enlarged to EGP 74.31 billion from EGP 72.46 billion.

Standalone Financial Results

Al Baraka Bank-Egypt recorded standalone net profits after tax worth EGP 1.75 billion in 2022, an annual hike of 55% from EGP 1.13 billion.

Total non-consolidated assets increased by 6% YoY to EGP 87.22 billion in 2022 from EGP 82.36 billion, whereas the clients’ deposits grew by 3% YoY to EGP 74.42 billion from EGP 72.56 billion.