“We are upbeat about the bank’s business growth especially in profitability and balance sheet in 2015,” Adnan Ahmed Yousif, member of the Board of Directors and President and Chief Executive of Al Baraka Banking Group, on the sidelines of the AGM told The24X7News Bahrain (www.twentyfoursevennews.com).
Talking about the expansion, he said that the bank would see 54 new branches across its network especially in Pakistan, Turkey and Egypt in addition to taking the total number of employees to 12000 by end of 2015.
Al Baraka Banking Group (B.S.C) is licensed as an Islamic wholesale bank by the Central Bank of Bahrain, listed on Bahrain Bourse and Nasdaq Dubai stock exchanges. It is a leading international Islamic banking group providing its unique services in countries with a population totaling around one billion. It is jointly rated BBB+ (long term) / A3 (short term) on the international scale and A+ (bh) (long term) / A2 (bh) (short term) on the national scale with a Stable outlook by Islamic International Rating Agency & Dagong Global Credit Rating Company Limited, and by Standard & Poor’s at BB+ (long term) / B (short term). Al Baraka offers retail, corporate, treasury and investment banking services, strictly in accordance with the principles of the Islamic Shari’a. The authorized capital of Al Baraka is US$ 1.5 billion, while total equity is at about US$ 2 billion.