Al Baraka Banking Group Reports Second Quarter and First Half Profits for 2021

Bahrain-based Al Baraka Banking Group (Al Baraka) reported profits for the second quarter and the first half of 2021 (2Q 2021 and 1H 2021, respectively). Al Baraka stated that its performance was buoyed by discipline in expenses and lower provisioning, owing to the gradually improving outlook and environment.

Why it Matters?

Abdullah Saleh Kamel, Chairman of the Board of Directors at Al Baraka, noted that the bank had put in effort to enhance financial performance and operations amidst dealing with the repercussions of COVID-19, both at the group and subsidiary levels. This led to good results across the group as well as growth in net income when compared with the previous year.

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