Al Baraka Bank-Egypt Expands its Footprint with New Branch in Ismailia

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Cairo – Al Baraka Bank-Egypt continues its commitment to growth and community support, with the opening of a new branch in Ismailia Governorate. The inauguration event was attended by CEO and Vice Chairman, Hazem Hegazy, along with other top executives from the bank.

In line with its dedication to serving the well-being of the communities it operates in, the EGX-listed lender made a significant contribution to Suez Canal University Hospital. The bank donated state-of-the-art medical devices for the detection of eye diseases, providing advanced diagnostic capabilities to benefit Ismailia citizens.

Commenting on the expansion, Abdel Aziz Samir, Head of Retail Banking Sectors and Branches, stated, “We are actively preparing to open two additional branches before the year’s end. These initiatives are a testament to our unwavering commitment to serving our customers and fulfilling their diverse needs.”

Al Baraka Bank-Egypt’s efforts align with the Central Bank of Egypt’s (CBE) objective to promote financial inclusion. By providing integrated banking products and solutions, the bank aims to support the country’s development and enhance access to financial services for all.

Sarah Abdo, Head of Marketing and Corporate Communication at Al Baraka Bank, emphasized the bank’s dedication to expanding its presence across various governorates in Egypt. “Our commitment to providing unparalleled banking services to our valued customers drives our expansion strategy. Equally important is our mission to contribute positively to our communities and enhance the quality of life for all its members,” she said.

As part of this vision, Al Baraka Bank-Egypt recently entered into a significant partnership with Sonaa El khair Foundation. Through this collaboration, the bank proudly donated two cutting-edge devices for detecting eye diseases. One device was donated to Suez Canal University Hospital, and another to Zagazig University Hospital, following the successful opening of the branch in Zagazig.

In addition to its community support, Al Baraka Bank-Egypt has demonstrated strong financial performance. In the first quarter (Q1) of 2023, the bank posted a consolidated net profit after tax of EGP 445.68 million, marking a notable year-on-year (YoY) upswing from EGP 369.38 million.

With its continuous growth and commitment to community welfare, Al Baraka Bank-Egypt remains a leading player in Egypt’s banking sector. The new branch in Ismailia and the medical device donations showcase the bank’s dedication to serving both its customers and the larger community.