Egyptian Saudi Finance Bank’s Net Profits Up

MANAMA, 4 December 2007 — The Egyptian Saudi Finance Bank, a subsidiary banking unit of Albaraka Banking Group (ABG), has achieved excellent operational results during the first nine months of 2007 with net profits surged 77 percent and total assets jumped 20 percent.

Net profits before provisions increased by 77 percent to $14.8 million compared to $8.2 million for the same period last year. Net earnings showed an increase of 82 percent, up $9.6 million for the first nine months of 2006, to $17.9 million in the first nine months of the current year. Returns on financing and investments also increased by 33 percent, up from $57.3 million to $77.7 million in the period under review.