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Home / Business / Banking group Al Baraka records $207m profit in 9 months of 2014, assets touch $22.5b
Banking group Al Baraka records $207m profit in 9 months of 2014, assets touch $22.5b

Banking group Al Baraka records $207m profit in 9 months of 2014, assets touch $22.5b

KARACHI: Al Baraka Banking Group (ABG) has recorded a profit of $207 million in the first nine months of 2014. The bank’s total assets have touched $22.5 billion and its equity has crossed $2 billion.

In a press release, the bank said the results affirm the group has managed to achieve growth in profitability and businesses despite financial and economic fluctuations regionally and internationally. These results are the outcome of a number of initiatives taken during the year, including improving the quality of products and services, expanding the branch network of subsidiary units and technical infrastructure both in relation to the group and subsidiary units, it said. “All these initiatives have contributed to maximising the returns to shareholders and investors of the group.”