The Clap
Yesterday, Al Baraka Bank Egypt shared its 2023 financial results. Here are the metrics you need to know…
Net Interest Income:
It hit EGP 4.37 billion in 2023, jumping by 27% YoY. This shows the gap between interest earned from loans and interest paid out to depositors.
Net Profit:
Consolidated net profit for 2023 amounted to EGP 2.21 billion, marking a 27% increase YoY.
Dividends Announcement:
On the same day, the bank proposed distributing EGP 1 billion to shareholders, equating to around 45% payout ratio. The dividends stand at EGP 1.38/share, while the dividend yield is at 9%.
