Al Baraka Bank Syria profits rise 34% to reach 4.6 billion pounds until the end of the third quarter 2019
Al Baraka Bank Syria achieved a net profit of about 4.6 billion pounds until the end of the third quarter of 2019, and a return on earnings per share of 45.82 pounds, while the bank's assets recorded a decline of 11.15%.
According to the bank's financial statements published on the website of the Damascus Securities Exchange, which received a copy of the site, Business2Business Syria, the bank's net profit until the third quarter of 2019 amounted to 4.581 billion pounds after excluding the tax and the impact of cutting profit Structurally increased by 34.24%, while the third quarter profits amounted to only 2.043 billion pounds.
While the earnings per share of the bank amounted to 45.82 pounds until the end of the third quarter of 2019, and 2.44 pounds during the third quarter of 2019.
Data showed by the website "b2b-sy" showed that the bank's shareholders' equity grew by 12.21% after jumping from 31.946 billion pounds on 31/12/2018 to 35.848 billion pounds until the end of the third quarter 2019.
The assets of the bank recorded a contraction during the first nine months of 2019, after falling by 11.15% from LBP 396.3 billion to LBP 352.1 billion, while the operating income of the bank amounted to about LBP 10.4 billion.
The data showed that the book value of the bank until the end of the third quarter of 2019 amounted to 358.48 pounds and the market value reached 810.11 pounds.
It is noteworthy that the bank accumulated profits realized and recycled from previous years by 3.586 billion pounds and unrealized retained earnings and is not distributable worth 14.39 billion pounds, or the legal reserve of the bank amounted to 1.25 billion pounds, which is not capitalized or distribution, while the private reserve capitalized and distribution Amounted to about 2 billion liras
It is noteworthy that the bank's authorized and paid-up capital is 10.467 billion pounds and the number of shareholders of the bank until the end of the third quarter 2019 amounted to 6445 shareholders.
Mr. Adnan Ahmed Yousif is the Chairman of the Board of Directors, in addition to eight members. The Executive Director is Mr. Mohammed Abdullah Al Halabi.
Syria Economic News
