Net Income of Al Baraka Banking Group rose by 8% to US$197 Million in the First Nine Months of 2013 with Total Assets at US$ 19.9 billion
Bahrain-based Al Baraka Banking Group ( ABG ) has achieved a net income of US$ 197 million in the first nine months of 2013, an increase of 8% on the net income achieved in the first nine months of 2012. Similarly, statement of financial positions witnessed moderate increases. Total assets increased by 4%, investments and financing portfolio by 5% and customer accounts by 2% as at the end of September 2013 as compared with the end of December 2012. The net income amounted to US$ 197 in first nine months of 2013 compared to US$ 183 million in first nine months of 2012, which reflects an increase of 8%. With regard to the Group's plans to expand its branch network, the President & Chief Executive said that the subsidiary units of the Group in Turkey, Egypt, and Sudan continued opening new branches.
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