Corporate corner: Al Baraka Group records $275m profit

MANAMA:

Al Baraka Banking Group BSC held its Ordinary and Extra-ordinary General Meetings on 23rd March 2015 in Bahrain. The Group’s shareholders reviewed in relation to the financial year ended 31 December 2014 the report of the Board of Directors on the Group’s activities, the Auditors’ report on the financial statements and the report of the Unified Sharia Supervisory Board. The consolidated financial statements for the financial year ended 31 December 2014 were also reviewed and approved. The Group’s financial results for year 2014 showed a net profit of $275 million reflecting an increase of 7% over the profit of 2013. Total assets increased by 12%, total finance and investments by 15%, deposits, including unrestricted investment accounts by 12% and total equity by 5% as at the end of December 2014 in comparison with the end of December 2013.

Published in The Express Tribune, March  26^th,  2015.

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