Saturday 25 October 2014
 
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Al Baraka bank

Al Baraka posts near-flat Q1 profit

Bahrain-based Al Baraka Banking Group reported near-flat first-quarter net profit on Sunday. The Islamic lender recorded a net attributable profit of $36.6 million in the three months to March 31, compared with $36.8 million in th

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Al Baraka sees Algerian unit's assets grow

Al Baraka Bank Algeria, a subsidiary banking unit of Al Baraka Banking Group (ABG), achieved good financial results, growth in businesses and expansion in branch network last year. The bank's assets grew by six per cent to rea

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Al Baraka Bank Q2 net rises 11pc to $42 million

Bahrain-based Islamic lender Al Baraka Banking Group said on Sunday that its net income for the second quarter totalled $42 million, up 11 percent from the prior-year period, mainly driven by higher revenues from core operations.

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Nonoo Exchange opens Riffa branch

Bahrain-based Nonoo Exchange Company (NEC) opened its 16th branch in East Riffa yesterday. The event was held under the patronage of Sheikh Abdulrahman bin Ali Al Khalifa, general director of land registration. The opening was att

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Al Baraka Bank plans major Africa push

Bahrain-based Islamic lender Al Baraka Bank plans to expand its global footprint with a focus on Africa under a five-year plan that includes investments in Libya and Morocco, its chief executive told Reuters. The lender, which has

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Al Baraka Turkish unit to issue $200m sukuk

Bahraini lender Al Baraka Bank's Turkish subsidiary will go ahead with a $200 million Islamic bond issue in the first quarter, after delaying a sale last month due to pricing concerns, the bank's chief executive said. 'We will

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Al Baraka Syrian unit plans expansion

The newly-opened Syrian unit of Al Baraka Bank aims to continue expanding, its chief executive said, despite an eight-month revolt that has mired Syria in violence and economic uncertainty. The unit of Bahrain-based Al Baraka bank became o

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Al Baraka unit set to open Algiers HQ

Al Baraka Bank Algeria, a subsidiary unit of Bahrain-based Al Baraka Banking Group, has signed contracts for the establishment of the bank's headquarters in the Algerian capital Algiers. The contracts were signed in Istanbul, Turkey, in th

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Baraka plans new HQ at Bahrain Bay

Al Baraka Banking Group is set to build its new headquarters at the Bahrain Bay Development, the $2.5 billion landmark waterfront community located off the north shore of Manama. Al Baraka said it has received the building permit from the

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Al Baraka Bank to launch $50m fund

Al Baraka Bank is planning to launch a $50 million fund to finance a government institution, said a report in our sister paper Akhbar Al Khaleej. This is the second such funding after it invested $500 million in Bahrain Mumtalakat Holding

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