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Islamic Finance Briefing - Categorized | Banking, Performance more

Net income of Al Baraka Banking Group jumped by 11pct in Q1

Posted on 13 May 2011

The Bahrain based leading Islamic banking group, Al Baraka Banking Group B.S.C (ABG) announced that it has achieved a net income of US$ 53.5 million in the first quarter of 2011, an increase of 11% on the net income achieved in the first quarter of 2010.
Similarly, statement of financial positions witnessed moderate increases. Total assets increased by 3%, total financing and investments by 1%, deposits including equity of investment accountholders by 2% as at the end of March 2011 as compared with the end of December 2010. (Press Release)

 
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