Al -Baraka Group continues its distinguished performance during the first quarter of this year

Al -Baraka Group (MM) (“Group”) continued to achieve strong financial results, and achieved a significant increase in profit and business indicators during the first quarter of the year 2025, where the net income returning to the shareholders of the parent company jumped by 19% to reach 46 million US dollars, compared to 39 million US dollars in the first quarter of the year 2024.

The basic share of the share profitability was 3.84 American cents in the first quarter of 2025, compared to 3.23 American cents in the first quarter of 2024.

The main reason for this great improvement is due to the high volume of funds and business growth in the main units of the group such as Türkiye, Jordan and Egypt, which reflected positively on the operating income of the group.

The group also announced a significant increase in the total comprehensive income attributed to the shareholders of Al -Baraka Group, where profits of 34 million US dollars were recorded at the end of the first quarter of this year, compared to a loss of $ 60 million, as in the same period last year. This is mainly due to a decrease in foreign currency transfer reserves.

On the other hand, the group recorded a significant increase in the total net income by 19%, to reach 91 million US dollars during the first quarter of this year, compared to 77 million US dollars for the same period in the year 2024. This is mainly due to the high profits of funds and investments in the main units of the group and the decrease in allocations, despite the continued high cost of financing costs.

This has led to the transfer of net income in the year 2024 for the remaining profit item, with a net income registration during the first quarter of the year 2025 to the increase in the total rights of the shareholders of the parent company and the sukuk campaign by 2% to $ 1.28 billion at the end of March of this year, compared to 1.24 billion US dollars as at the end of December 2024.

As for the total rights, it amounted to 2.03 billion US dollars by the end of March 2025, compared to 2.00 billion US dollars at the end of December 2024, recording a increase of 1% for the same reasons mentioned above.

As a result of the growth of business and the group’s customer base, this was reflected positively in increasing funds and deposits, especially in the group’s main markets, as the total assets of the group rose to 27.24 billion US dollars at the end of March 2025, compared to $ 26.19 billion at the end of 2024, recording 4%growth.

Commenting on these results, Sheikh Abdullah Saleh Kamel, Chairman of the Board of Directors of the group, stated: “Al -Baraka Group succeeded in the first quarter of the year 2025 in building on its strong financial results during the past year, and continued to strengthen its presence and expand its shares in the main markets in which it works, putting its sights on hedging the opposite global economic and financial conditions, and at the same time the progress steadily in developing business, funds and deposits, which was reflected in a great positive way in The growth of income and net profits. We will continue to invest our strong financial resources and our extensive presence in enhancing our business base and customers and maximizing the return on our investments and committing to serving the societies in which we work.

For his part, Mr. Hossam bin Al -Hajj Omar, a member of the Board and CEO of the group stated: “Despite what was born by the geopolitical and global economic and economic developments from a turbulent investment climate and a state of uncertainty, we have our banking units deep experience in adapting to these conditions.

At the same time, the group continues to focus on its main goals in promoting financial durability, and increasing the returns from financing and investment portfolios, by enhancing markets’ confidence in our products and services, as well as the presence of banking competencies that constantly develop innovative products that enhance our competitiveness.

Among these products are the “commercial financing platform” and the “Banking Without Borders” initiative that we launched last year, and we are continuing to exercise strict and comprehensive control over risks, compliance and governance.