Latest news with #customersegments
Zawya
5 days ago
- Business
- Zawya
Al Baraka Bank Egypt reports outstanding H1 2025 results
Cairo – The standalone financial results of Al Baraka Bank Egypt have revealed an exceptional performance during the first half of 2025, reflecting a significant leap in the bank's financial and operational indicators. The bank's net profit after tax reached EGP 1.96 billion, marking a growth rate of 46.7% compared to the same period in 2024. This achievement underscores the effectiveness of the bank's Sharia-compliant operating model and its ability to adapt to market changes by offering innovative Islamic financial products and exceptional banking services tailored to the needs of customers across all segments. This remarkable growth was driven by a 42.5% increase in net pre-tax profit, which reached EGP 2.77 billion compared to the same period in 2024, alongside a 32.4% rise in total operating income to EGP 4.32 billion. Net returns income grew by 27.5% to EGP 3.64 billion, while net fees income, commissions, and other revenues surged by 66.6% to EGP 682 million, representing 15.8% of total operating income. In terms of financial indicators, return on average assets (ROAA) stood at approximately 2.8%, while return on average equity (ROAE) reached around 30.4%. Furthermore, total assets have witnessed an increase by 6.6% to EGP 136.2 billion, and total equity reached EGP 13.5 billion by the end of June 2025. On the bank's balance sheet front, the retail financing and credit facilities portfolio continued to grow, reaching EGP 65.1 billion, an increase of EGP 4.5 billion or 7.4% compared to year-end 2024. Meanwhile, customer deposits rose by 7.7% (EGP 8.2 billion) to EGP 114.8 billion by the end of June 2025, reflecting growing customer confidence. The financing-to-deposits ratio stood at 56.7% at the end of June 2025. On the other hand, the corporate financing and credit facilities portfolio increased by EGP 2.2 billion (4.7%) compared to year-end 2024 to reach EGP 50.3 billion by the end of June 2025. Within this segment, large corporate and syndicated financing recorded a growth of EGP 3.6 billion (9%) to reach EGP 43.4 billion, while small and medium enterprises (SMEs) financing stood at EGP 6.9 billion at the end of June 2025. And on the retail banking side, the personal finance and facilities portfolio recorded strong growth of 18% to reach EGP 14.8 billion by the end of June 2025, up by EGP 2.3 billion. The credit card portfolio to individuals increased by 33% to EGP 324 million by the end of June 2025. As for the retail deposit portfolio, the bank recorded notable growth, rising by 15.8% (EGP 10 billion) compared to year-end 2024 to reach EGP 72.6 billion by the end of June 2025, representing approximately 63% of total deposits from Individuals. In another respect, corporate deposits stood at EGP 42.2 billion by the end of June 2025. Commenting on these results, Mr. Hazem Hegazy, CEO and Vice Chairman of Al Baraka Bank Egypt, said: 'The steady growth indicators achieved by Al Baraka Bank today are not just about numbers. They embody a close partnership between us, our clients, and our partners, and reflect our vision to establish a sustainable, value-based growth model. We consider these results, which are based on the principles of Islamic Sharia, an important milestone in our journey to provide banking services that meet the aspirations of our customers, while also having a tangible impact on the lives of individuals and the success of institutions. We continue to focus on digital transformation, expanding our geographical footprint, and enhancing our financing capabilities to meet the needs of a wider customer base. We are moving forward in supporting the Egyptian economy by contributing to development projects, providing more investment opportunities, and participating effectively in the macroeconomy.'
Yahoo
17-07-2025
- Business
- Yahoo
Zurich Canada revamps organisational structure
Zurich Canada has introduced a series of organisational changes aimed at improving its alignment with customer segments and broker partners. The company's restructuring is part of an initiative to simplify operations and provide more targeted services to its clients. In the new structure, Zurich Canada's teams will be organised around four principal customer segments: National, Middle Market, SME (small and medium-sized enterprises) and Retail. This approach is intended to facilitate more streamlined interactions between customers, brokers and the company. The National Accounts segment, which includes National General Property, National Liability (with Environmental & Auto), a consolidated National Energy/Construction/Marine unit, Surety and Financial Lines, will be led by Dane Hambrook. Marco Royer has been appointed to oversee the Alternative Risk Solutions segment, which will manage programmes, MGAs (managing general agents) and ART/captives. Donna Mulligan will maintain her leadership role in the Middle Market segment, focusing on specific industry verticals including construction, manufacturing, professional services, real estate, retail, technology and wholesale. The Retail segment will be structured to cover A&H (accident and health), travel and retail partnerships (auto & home), with the head of retail reporting to Paul Jackson, the head of customer & market management and retail. Zurich Canada CEO Saad Mered said: 'We are committed to putting our customers and broker partners at the centre of everything we do. These changes are a reflection of our ambition to deliver simpler, more effective solutions and to build even stronger relationships with those we serve. 'By aligning our organisation more closely with our customers' unique needs, we are positioning Zurich Canada for sustainable growth and continued leadership in the market.' In May, Zurich North America revamped its US National Accounts and Underwriting leadership. "Zurich Canada revamps organisational structure " was originally created and published by Life Insurance International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
