Latest news with #AlBarakaBankEgypt
Zawya
6 days ago
- Business
- Zawya
Al Baraka Bank Egypt's consolidated profits surge 95.6% YoY in H1 2025
Arab Finance: The consolidated net profits attributable to the equity holders of Al Baraka Bank Egypt hiked by 95.62% year-on-year (YoY) to EGP 1.951 billion in the first half (H1) of 2025 from EGP 997.296 million, according to the financial results. Net income from funds amounted to EGP 3.643 billion in the January-June 2025 period, compared to EGP 1.831 billion in H1 2024. The basic earnings per share (EPS) increased to EGP 2.34 in H1 2025 from EGP 1.19 a year earlier. Meanwhile, the standalone net profits after tax climbed to EGP 1.959 billion in H1 2025 from EGP 1 billion in H1 2024, while the Net income from funds soared to EGP 3.637 billion from EGP 1.827 billion. © 2025 All Rights Reserved Arab Finance For Information Technology Provided by SyndiGate Media Inc. (
Zawya
11-08-2025
- Business
- Zawya
Egypt: B Healthcare Investments to raise capital to $20mln
Arab Finance: B Healthcare Investments, a subsidiary of B Investments Holding, is close to obtaining the necessary approvals to increase its capital to EGP 1 billion, according to a bourse filing. The transaction will be executed through the entry of new investors, such as the Commercial International Bank (CIB) and Al Baraka Bank Egypt, along with Misr Insurance and Misr Life Insurance. This is in addition to existing shareholders, such as the Sovereign Fund of Egypt's (TSFE) Healthcare and Pharma Sub-fund, and a businessman. This move aims to finance the company's expansion plans within Egypt and other Gulf countries. © 2025 All Rights Reserved Arab Finance For Information Technology Provided by SyndiGate Media Inc. (
Zawya
29-07-2025
- Business
- Zawya
Al Baraka Bank Egypt donates EGP5mln to Saleh Kamel Applied Technology School for Ready-Made Garments and Textile Industries
Cairo – In line with its ongoing commitment to supporting education and enhancing its role in corporate social responsibility, Al Baraka Bank Egypt has announced a donation of EGP 5 million to Sheikh Saleh Kamel Secondary School for Applied Technology and Ready-Made Garments, affiliated with The Saleh Abdullah Kamel Humanitarian Foundation. This donation, which aims to cover the school's expenses in Tanta City, comes as part of a joint coordination with the Ministry of Education and Technical Education, and through a partnership between Al Baraka Bank Egypt and the Federation of Egyptian Industries, with the goal of supporting specialized technical education. The signing ceremony took place in the presence of several leaders from both sides, including Mr. Hazem Hegazy, CEO and Vice Chairman of Al Baraka Bank Egypt, and Mr. Abdelaziz Samir, Deputy CEO for Consumer Banking at Al Baraka Bank. Representing the Sheikh Saleh Kamel Humanitarian Foundation were Mr. Hammam Zaree, Member of the Foundation's Board of Trustees, and Dr. Mahmoud Khedr, Acting Executive Director. This initiative focuses on modern specializations required by the labor market, in addition to strengthening an education system based on innovation, scientific research, and entrepreneurship. It's worth noting that the school annually accommodates approximately 125 underprivileged students aged between 14 and 15, and provides scholarships for financially struggling students to pursue their university education at several private Egyptian universities. This donation is specifically allocated to cover these students' tuition fees, provide essential educational tools, and fund staff salaries, electricity costs, and operational services. Mr. Hazem Hegzay, CEO and Vice Chairman at Al Baraka Bank Egypt, expressed pride in this partnership, stating: "At Al Baraka Bank Egypt, we believe that quality education is the fundamental pillar for building a society capable of keeping pace with economic and social changes. This contribution supports the National Strategy to reform and develop Technical Education launched by the Ministry of Education and Technical Education, with the aim of elevating this type of education and linking it to labor market needs. We also highly value the fruitful cooperation with the Federation of Egyptian Industries as an honorable model for effective partnership between the private sector and civil society. Advancing technical education requires concerted efforts and integrated roles, and we at Al Baraka Bank are committed to continuing to support these strategic partnerships that place Egypt's youth at the heart of the development process." For his part, Dr. Mahmoud Khedr, Acting Executive Director of The Saleh Abdullah Kamel Humanitarian Foundation, expressed his appreciation for the support provided by the Bank, stating: "We commend this generous initiative from Al Baraka Bank Egypt, which directly contributes to providing a comprehensive educational environment for our students by funding the school's essential needs, whether in terms of tools, infrastructure, or human resources. This support gains double importance in light of the unique advantages the school offers, which include students receiving two accredited certificates; AHK certificate from the German-Arab Chamber of Industry and Commerce (GACIC), and another Egyptian certificate that complies with modern standards, in addition to studying the German language. We also provide students with vocational training within factories, daily transportation, and meals, which enhances our ability to graduate a generation scientifically and practically qualified, and capable of competing in local and international labor markets." This collaboration is built on a shared belief in the importance of integration between various sectors to create a positive and sustainable impact on the lives of individuals and local communities in Egypt. The Saleh Abdullah Kamel Humanitarian Foundation plays an active role in supporting community initiatives that contribute to empowering individuals and helping them overcome economic and social challenges, positively reflecting on improving the quality of life and promoting comprehensive development. Building on this shared vision, this initiative reinforces Al Baraka Bank Egypt's ongoing commitment to education and community empowerment. From Delta University to Elsewedy University (SUTech) – Polytechnic of Egypt, and from Sohag villages to the halls of EDUGATE, Egypt's largest university gathering, the bank has left its mark through initiatives that touch the lives of students and youth, whether through equipping laboratories, covering expenses, providing financial facilities, or supporting hospitals that serve thousands.
Zawya
26-05-2025
- Business
- Zawya
Al Baraka Bank Egypt launches joint trade program with South Africa branch
Arab Finance: Al Baraka Bank Egypt has launched a foreign trade cooperation program with Al Baraka Bank South Africa to support trade activities through the group's digital trade platform, as per an emailed press release. The initiative is part of Al Baraka Banking Group's strategy to facilitate investment and trade exchange across regional markets. It aims to provide practical support for exporters and importers by improving trade finance mechanisms to meet client needs and encourage economic ties among African countries. The program follows previous efforts involving other Al Baraka branches in Türkiye, Pakistan, Jordan, and Algeria. It reflects the group's continued focus on developing its digital platforms and strengthening cooperation across its regional network. During a webinar announcing the program, the bank noted that this step contributes to broader efforts to support trade integration and serve clients and communities across different markets. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
28-04-2025
- Business
- Zawya
Al Baraka Bank Egypt partners with Delta University to advance financial inclusion and empower youth
Cairo – As part of the celebrations of Arab Day for Financial Inclusion, observed from April 1 to April 30, Al Baraka Bank Egypt has signed a Memorandum of Understanding with Delta University for Science and Technology in Dakahlia Governorate. This step reflects the Bank's commitment to supporting financial inclusion efforts and empowering youth. The partnership aims to implement a series of activities on campus, where the Bank hosted interactive activations, introducing its banking services and directly engaging with over 9,500 students. As part of this initiative, Al Baraka Bank Egypt will organize a series of awareness seminars for university students, introducing the fundamentals of financial inclusion and covering six key events throughout the year. These include financial inclusion themes such as Arab Day, Youth, Farmers, Women, Savings, and People of Determination, among other vital topics. The seminars are designed to enhance students' financial literacy and equip them with the knowledge they need to make informed financial decisions that support their economic independence and future. During the financial inclusion events, the Bank will offer a special package of exclusive services, including youth savings accounts (Start), economic activity accounts (Sana'a), and simplified accounts (Kol El Nas), all with no minimum balance requirements. Clients will also be exempt from account opening fees and debit card issuance fees for the first year. Reinforcing its commitment to youth empowerment, the initiative also includes practical training programs for outstanding students at Al Baraka Bank Egypt branches, offering them real-world experience and hands-on skills in a professional banking environment. In parallel, the bank is also driving financial awareness internally by hosting educational sessions for support staff at its headquarters. These sessions aim to combat financial illiteracy, encourage account openings, and promote exclusive benefits, including cashback programs. On this occasion, Mr. Abdelaziz Samir, Deputy CEO for Consumer Banking at Al Baraka Bank Egypt, stated: "At Al Baraka Bank Egypt, we believe that fostering financial literacy and empowering individuals, especially youth, is key to unlocking emerging economic opportunities in our society. Our partnership with Delta University marks a pivotal step towards sustainable development. We view these initiatives not merely as celebratory events but as true platforms to help youth engage with the financial system, build essential banking skills, and actively participate in Egypt's economic future. We reaffirm our deep commitment to expanding financial inclusion and supporting every initiative that empowers the next generation.' This collaboration falls within Al Baraka Bank Egypt's broader strategy to increase youth integration into the financial system, reinforcing its position as a socially responsible financial institution that places sustainable and inclusive youth development at the heart of its priorities. The recent launch of a dedicated youth account by the Bank further supports this vision, offering flexible and innovative banking solutions to help young individuals embark on their financial journeys with ease.
