KARACHI: Al Baraka Bank Pakistan, a subsidiary banking unit of Al Baraka Banking Group B.S.C. (ABG), announced an increase of 177% to reach Rs2.2 billion in total operating income in 2011. Shareholders equity grew by 6.6%, total assets increased by 19%, total customer deposits including IAH by 24.8% and financing and investments by 28% at the end of 2011. After deducting operating expenses, which increased by less than 21%, net income showed a record increase of 140% and touched Rs410 million in 2011. On the balance sheet side, total assets of Al Baraka Bank Pakistan grew by 19% to reach Rs72.5 billion.
Published in The Express Tribune, April 5th, 2012.
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