Arab Today, arab today bahrain\s al baraka posts 7 q1 profit rise
Last Updated : GMT 12:02:44
Arab Today, arab today
Arab Today, arab today

Bahrain\'s Al Baraka posts 7% Q1 profit rise

Arab Today, arab today

Arab Today, arab today Bahrain\'s Al Baraka posts 7% Q1 profit rise

Manama - Arabstoday

Bahrain-based Islamic lender Al Baraka Banking Group posted a 7 percent increase in first-quarter net income, the bank said in a statement on Wednesday. The bank, which has operations in 15 countries including Turkey, Syria and Egypt, made a profit of US$57.4m for the first-quarter, compared with US$53.5m in the first three months of 2011. The increase in profit came despite continuing political and economic upheaval in a number of the markets in which the group operated, as well as the impact of debt issues in the euro zone, Sheikh Saleh Abdullah Kamel, chairman of Al Baraka, said. Total assets at the end of March stood at US$17.5bn, up 1.7 percent from the US$17.2bn figure at the end of 2011 and 7.4 percent higher than the US$16.3bn at the same point last year. Deposits at the bank were worth US$15bn at the end of Q1, up 2 percent from US$14.7bn at the end of last year and 7.9 percent higher than the US$13.9bn at March 31 2011. The bank is aiming to open 50 branches across its network in the next three years to take the total number to over 500, the statement added. Al Baraka is aiming for a 15 percent growth in net profit in 2012, as well as acquiring a 75 percent stake in an unlisted Indonesian bank this year, Adnan Ahmed Yousif, its CEO, told Reuters in an interview in March.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today bahrain\s al baraka posts 7 q1 profit rise Arab Today, arab today bahrain\s al baraka posts 7 q1 profit rise

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today bahrain\s al baraka posts 7 q1 profit rise Arab Today, arab today bahrain\s al baraka posts 7 q1 profit rise

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today How to do your own Ramadan corner?

GMT 15:53 2017 Saturday ,27 May

How to do your own Ramadan corner?
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday