AMMAN: The Bahrain-based Islamic banking group, Al Baraka Banking Group (ABG) announced that its total operating income reached $1 billion in 2015 for the first time since the start of the Group activities 12 years ago, while the net income for the year reached $ 286 million, an increase of 4 per cent on the net income achieved in 2014.
Balance sheet items witnessed moderate increases as total assets increased by 5 per cent, total finance and investments by 4 per cent, customer accounts by 2 per cent, while total equity increased by 1 per cent as at the end of December 2015 in comparison with 2014, the bank’s statement said.
Commenting on these results, Sheikh Saleh Kamel, Chairman of Al Baraka Banking Group, said 2015 witnessed difficult economic and political conditions regionally and globally.
ABG Vice Chairman Abdulla Al Saudi said that “In 2015, the weak economic growth experienced in the majority of developed and developing countries was by and large replicated in the countries in which ABG operates.
Adnan Ahmed Yousif, Member of the Board of Directors and President and Chief Executive of ABG, said: “The outstanding results achieved during 2015, embodies our determination to implement all the initiatives that we planned for launch early this year, defying all economic and political datum regionally and globally, and which generated difficult operating and technical conditions for banks in the region.