Al Baraka bank to open a branch in administrative capital

Wednesday 11 July 2018 01:13 PM


By Ahmed Desouqy and Essam Emairah:
CEO of Al Baraka Banking Group Adnan Ahmed Yousif, who is the chairman of Al Baraka Bank – Egypt, said that his bank is planning to launch a branch costing EGP 800mn in finance and business district in the New Administrative Capital over the coming period.
In statements to Al Mal newspaper, Yousif said that the branch is to be built over an area of 10,000 sq. meter, adding that Al Baraka Bank – Egypt was of the first lenders that submitted a request to acquire a plot in the New Administrative Capital as the bank realizes its importance in the coming period.
Finance and business district is one of the projects in the first phase of New Administrative Capital.
Al Baraka Banking Group B.S.C., together with its subsidiaries, provides various banking products and services. It offers international and commercial, retail, corporate, and investment banking services, as well as financing and treasury services. The company operates in Turkey, Jordan, Egypt, Algeria, Tunisia, Sudan, Bahrain, Pakistan, South Africa, Lebanon, Syria, Iraq, Saudi Arabia, Indonesia, and Libya. It operates through approximately 700 branches. The company was incorporated in 2002 and is headquartered in Manama, Bahrain.