Net Income of Al Baraka Banking Group Jumped by 11% to US$53.5 Million in the First Quarter of 2011

Al Baraka Banking Group announced an increase of 11% in the first quarter of 2011 compared to the net income achieved in the first quarter of 2010. Total assets increased by 3%, total financing and investments by 1%, deposits including equity of investment accountholders by 2% as at the end of March 2011 as compared with the end of December 2010.
Sheikh Saleh Abdullah Kamel, Chairman of Al Baraka Banking Group, stated that the operations of banks were affected because a number of Arab countries have witnessed during the first quarter of 2011 large political and social shifts that have had temporary implications on the environment of the banking sector in those countries.

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