Bahrain's Al Baraka Banking Group reported a 23 per cent increase in fourth-quarter net profit on Sunday (February 23).

The Islamic lender recorded a net attributable profit of $32 million in the three months to December 31, compared with $26 million in the corresponding period of 2012, the bank said in a statement.

Al Baraka, which has operations in fifteen countries, said it planned to add 81 branches to its network in 2014, in countries including Turkey, Pakistan, Jordan and Egypt.

It currently has 479 branches, the statement added. - Reuters