Earnings Report /
Egypt

Al Baraka Bank Egypt: Earnings supported by strong topline, and lower taxes; lending improves

  • Higher net-funded income coupled with lower provisions and taxes support sequential bottom-line growth

  • LDR slightly improves

  • Upgrade to Overweight; Performance is stabilizing

Bassma Bakry
Al Ahly Pharos Securities Brokerage
2 November 2021