GulfBase Live Support
08/08/2016 07:56 AST
Bahraini Islamic lender Al Baraka Banking Group reported a 2.8 percent dip in second-quarter net profit on Sunday.
The bank, which has operations in more than a dozen countries, made a net attributable profit of $43.6 million in the three months ending June 30, it said in a statement.
It did not provide a figure for the year earlier period. The company recorded a profit of $44.8 million for the second quarter of 2015, according to a statement released at the time.
Al Baraka will establish a banking unit in Morocco once it receives approval from local authorities, it said in May.
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Al Baraka Bank has been recognised as the ‘Best Performing Islamic Bank’ in Bahrain during the 24th World Islamic Banking Conference (WIBC) that concluded yesterday on a high note in the Kingdom. <
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