Al Baraka Bank has inaugurated a new branch in Ismailia Governorate as part of the Shariah-compliant bank’s strategy to enhance its customer base while solidifying its presence in the ever-growing Egyptian market.
The inauguration of the new branch marks a significant milestone in the bank’s dedication to extending its reach across Egypt, and to meet the diverse needs of its valued customers. Al Baraka Bank remains steadfast in its pursuit to uplift the communities in which it operates.
“The opening of our new branch in Ismailia Governorate marks another significant stride in our strategic expansion across Egypt. It comes as a natural progression following the successful inauguration of our branch in Zagazig, Sharkia Governorate last month,” said Abdel Aziz Samir, Al Baraka Bank’s Head of Retail Banking Sectors and Branches.
Al Baraka Bank plans to open two additional branches before the end of the year. “These initiatives are a testament to our unwavering commitment to serving our customers and fulfilling their diverse needs,” said Samir.
Sarah Abdo, Head of Marketing and Corporate Communication at Al Baraka Bank said the bank’s commitment to expand into various governorates across Egypt is deeply rooted in its dedication to provide unparalleled banking services to banking customers.
Al Baraka Bank Egypt’s total non-consolidated assets increased by 6% year-on-year (YoY) to EGP 87.22 billion in 2022 from EGP 82.36 billion a year earlier while customer deposits grew by 3% YoY to EGP 74.42 billion from EGP 72.56 billion.
