Egypt invites US investment in ports, shipping, and rail sectors    Finance Ministry launches €10M fund to support PPP project preparation    Public Prosecution to transfer 200kg of refined gold to CBE: Shawky    Egypt inks $121m oil, gas exploration deals with Apache, Dragon Oil, Prenco    Egypt's Foreign Minister, Pakistani counterpart meet in Doha    Egypt condemns terrorist attack in northwest Pakistan    Emergency summit in Doha as Gaza toll rises, Israel targets Qatar    Egypt renews call for Middle East free of nuclear weapons، ahead of IAEA conference    Egypt's EDA, Korean pharma firms explore investment opportunities    Egypt's FM heads to Doha for talks on Israel escalation    Egypt strengthens inter-ministerial cooperation to upgrade healthcare sector    Egyptian government charts new policies to advance human development    Egypt advances plans to upgrade historic Cairo with Azbakeya, Ataba projects    Egyptian pound ends week lower against US dollar – CBE    Egypt hosts G20 meeting for 1st time outside member states    Lebanese Prime Minister visits Egypt's Grand Egyptian Museum    Egypt to tighten waste rules, cut rice straw fees to curb pollution    Egypt seeks Indian expertise to boost pharmaceutical industry    Egypt prepares unified stance ahead of COP30 in Brazil    Egypt recovers collection of ancient artefacts from Netherlands    Egypt harvests 315,000 cubic metres of rainwater in Sinai as part of flash flood protection measures    Egyptian, Ugandan Presidents open business forum to boost trade    Al-Sisi says any party thinking Egypt will neglect water rights is 'completely mistaken'    Egypt's Sisi warns against unilateral Nile measures, reaffirms Egypt's water security stance    Egypt's Sisi, Uganda's Museveni discuss boosting ties    Egypt, Huawei explore healthcare digital transformation cooperation    Greco-Roman rock-cut tombs unearthed in Egypt's Aswan    Egypt reveals heritage e-training portal    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Al Baraka Bank-Egypt's financing portfolio rose to EGP 10.2bn in June
Limited bank capital may limit ability to achieve rapid growth in its activity, says Beltone Financial
Hossam Mounir Published in Daily News Egypt on 11 - 08 - 2015

Al Baraka Bank-Egypt's financing portfolio rose to EGP 10.2bn at the end of June, marking an increase of approximately 7.8% compared to June 2014, according to a report by Beltone Financial's research department.
In the report, of which Daily News Egypt obtained a copy, Beltone Financial said the bank's limited capital may restrict its ability to continue growth at the same pace. The report added that it may also check the bank's ability to absorb possible crises regarding losses of assets, which has witnessed some volatility over the past few years.
Al Baraka Bank's results also revealed the high volume of deposits at the bank, which rose by 5.1% in June, compared to the first quarter (Q1) of 2015, to a record EGP 21.4bn.
Beltone expects the bank will achieve a cumulative annual growth rate of 13% in terms of financing over the next six years, and a 10% growth of deposits.
The bank's profits rose in Q2 of 2015 to a record of EGP 76.9m, an increase of 37%, compared to the same period in 2014. Beltone expects the bank would achieve a profit of EGP 65m by the end of the first half (H1) of this year.
In its report, Beltone indicated the stability of Al Baraka Bank-Egypt's capital structure during Q2 of this year. The capital adequacy ratio reached 11.7%, compared to 11.1% in June 2014, and the core capital adequacy ratio rose to 9.4% from 9.2 % in March, and 8.7% in June 2014.
The bank's non-performing assets remain high, at 6.68% at the end of June, compared to 6.74% in March. The provisions corresponding to those non-performing assets increased to 108.3% in June, compared to 101.7% in March, Beltone added.
Beltone expects a gradual improvement in asset quality during the upcoming period, as the bank is working to increase its financing portfolio. Beltone also expects that the non-performing loan rate will gradually improve to 5.5%.

Clic here to read the story from its source.