Standard & Poor's Ratings Services has said that it had revised its outlook on Bahrain-based Al Baraka Banking Group (ABG) to stable from negative.
At the same time, it affirmed the 'BB+' long-term and 'B'
Al Baraka Bank Tunisia, a subsidiary banking unit of Al Baraka Banking Group, announced that first quarter net income jumped by 100 per cent to reach four million Tunisian dinars ($2.1 million) compared to the same period in 2014.
Al Baraka Bank Egypt, a subsidiary banking unit of Al Baraka Banking Group (ABG) and its investment arm in Egypt, announced that net income jumped by 21 per cent in first quarter of this year, compared with the same period last year.
Al Baraka Banking Group (ABG), a Bahrain-based Islamic bank, has reported a three per cent increase in net profit at $69 million for the first quarter ended on March 31, when compared with $67 million for the same period last year.
Al Baraka Banking Group is set to start distributing $32.8 million cash dividends for last year to shareholders from today (April 29).
This follows approval of the proposal and the financial results by shareholders in the annual g
Jordan Islamic Bank, a subsidiary of Bahrain-based Al Baraka Banking Corp, reported 2014 net profit of BD45.1 million ($63.6 million), the same level as the year-ago period.
Its assets had risen to BD3.86 billion by the end of Dec
The shareholders of Al Baraka Banking Group have approved cash dividend of three per cent or three cents per share and one bonus share for every 50 fully paid up shares.
This follows a joint annual and extraordinary general meetin
Bahrain-based Islamic banking group Al Baraka Banking Group’s (ABG) has announced that four of its units won Islamic Finance News Awards 2014.
They were chosen as the best Islamic banks in the region through the annual refer
Bahrain-based Al Baraka Banking Group is planning on issuing its first Islamic bonds, or sukuk, for its Jordanian unit later this year, chief executive Adnan Ahmed Yousif told Reuters.
Jordan Islamic Bank, the oldest of four Islam
A new partnership agreement with Al Baraka Islamic Bank has enabled Bahrain’s labour fund Tamkeen to add BD10 million ($26.3 million) to its allocated enterprise finance portfolio, increasing the total value to BD332.5 million.