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Article: Big jump in profit for Banque Albaraka D'algerie as net profit soars by 106% in 2008.
- Article from:
- Mena Report
- Article date:
- April 7, 2009
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Summary: Banque Albaraka D'Algerie, a subsidiary banking unit of Albaraka Banking Group B.S.C. (ABG), announced that it succeeded in achieving a big jump in its net profits and operating assets during 2008.
Banque Albaraka D'Algerie, a subsidiary banking unit of Albaraka Banking Group B.S.C. (ABG), announced that it succeeded in achieving a big jump in its net profits and operating assets during 2008. Net profits increased by 106%, net operating income by 70%, assets by 21%, financing by 28% and equity by 42%. It also announced that it was planning to open 50 more branches during the next five years.
The financial statements announced by the Banque ...