Financial Results
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Al Baraka Banking Group first-half profit falls as pandemic provisions soar 345%
Islamic bank Al Baraka posted $47.09 million in half-yearly profit attributable to equity holders, a fall of 16% compared to $56.16 million for the same period last year. The drop was a result of the Group allocating “a significant increase in precautionary provisions” to offset the impact of the COVID-19…
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