Al Baraka Bank Egypt (SAUD EY) recorded a net income after minority of EGP611.88mn in its consolidated H1 2021 results, reflecting a 12.5% YoY growth and strong ROAE of 23.14%. Said growth came from a 14.1% YoY increase in the bank’s net interest income to EGP1.36bn in H1 2021 with a NIM of 3.95%, in addition to escalating non-interest income by 30.4% YoY. This noticeable increase resulted mainly from a 15.1% YoY decline in the bank’s interest expense vs. a 6.1% YoY decrease in its interest income. The decline in Al Baraka’s interest income as well as interest expense came corresponding to the minimal up in the bank’s net loans portfolio by 0.83% YTD, in addition to dropping financial investments by 35.7% YTD, compared to a significant hike in the bank’s due from banks vs. a slight rise of 1.8% YTD in customer deposits. Al Baraka Bank managed also to demonstrate enhanced efficiency ratio with a Cost to income ratio of 24.06% in H1 2021 maintaining its level in comparison to last year figure.