Al Baraka Group’s Net Income Rises to US$204 Million in the First Half of 2026, with Total Assets Growing to US$33 Billion

Al Baraka Group B.S.C. (C) announced its financial results for the second quarter and first half ended 30 June 2026, reaffirming its continued ability to deliver strong and sustainable growth across its financial and operational performance indicators, despite geopolitical and economic challenges and volatility in global markets. The results reflect the resilience of the Group’s business model, underpinned by geographic diversification, strong market presence of its banking units in their local markets, diversified income streams, and enhanced quality of its financing and investment portfolios, enabling the Group to transform challenges into growth opportunities, supported by the outstanding performance of its key banking units, particularly in Türkiye, Jordan, and Algeria.

During the second quarter of 2026, the Group recorded notable growth in profitability indicators, with net income attributable to the shareholders of the parent company increasing by 16% to US$61 Million, compared with US$53 Million in the second quarter of 2025. Basic earnings per share rose to US cents 3.59 in the second quarter of 2026, compared with US cents 2.89 for the same period last year.

Total net income also increased significantly by 18% to US$111 Million during the second quarter of 2026, compared with US$94 Million in the corresponding period of 2025, driven by the remarkable growth in the business activities of the Group’s banking units, particularly in Türkiye, Algeria, and Jordan.

Total comprehensive income attributable to the shareholders of the parent company surged by 46% to US$73 Million during the second quarter of 2026, compared with US$50 Million in the corresponding period of 2025, primarily due to the positive impact of applying hyperinflation accounting requirements.

For the first half of 2026, the Group continued to deliver strong financial performance. Net income attributable to the shareholders of the parent company increased by 14% to US$113 Million, compared with US$99 Million in the first half of 2025. Basic earnings per share rose to US cents 7.91 in the first half of 2026, compared with US cents 6.73 for the corresponding period of 2025.

Total net income grew by 10% to reach US$204 Million during the first half of 2026, compared with US$185 Million in the corresponding period of the previous year, for the same reasons mentioned above.

Total comprehensive income attributable to the shareholders of the parent company surged by 73% to US$145 Million during the first half of 2026, compared with US$84 Million in the corresponding period of 2025.

Total equity attributable to the shareholders of the parent company and Sukuk holders increased to US$1.48 Billion at the end of June 2026, compared with US$1.37 Billion at the end of December 2025, representing an 8% increase, primarily supported by the accounting impact arising from hyperinflation. Total equity also increased by 7% to US$2.35 Billion at the end of June 2026, compared with US$2.19 Billion at the end of December 2025, for the same reasons mentioned above.

The Group further strengthened its financial position during the first half of 2026, with total assets rising to US$32.96 Billion, compared with US$31.01 Billion at the end of 2025, representing a growth of 6%, supported by solid growth in financing and investments, particularly across the Group’s banking units in Türkiye, Jordan, and Algeria.

As part of its strategy to enhance integration among its banking units, Al Baraka Group continued to expand its cross-border banking services by launching its account opening and management service between Al Baraka Islamic Bank – Bahrain and Al Baraka Bank Egypt, following the successful launch of the service between its Bahrain and Türkiye banking units. The initiative provides customers with a seamless digital banking experience across the markets in which the Group operates.

Commenting on the results, Shaikh Abdullah Saleh Kamel, Chairman of Al Baraka Group, said: “The Group’s results for the first half of 2026 reaffirm the strength and resilience of our business model and its ability to deliver sustainable growth despite geopolitical and economic challenges. Our strategy of geographic diversification, coupled with the deep-rooted presence of our banking units in their local markets, and the strength of our customer relationships have been fundamental pillars in enhancing the Group’s resilience against market volatility while enabling us to capitalize on growth opportunities, further reinforcing our position as one of the leading Islamic financial groups at both the regional and international levels.”

For his part, Mr. Houssem Ben Haj Amor, Board Member and Group Chief Executive Officer, stated: “These results reflect the successful execution of the Group’s strategic priorities, supported by growth in operating revenues, expansion of financing and investment activities, and improved operational efficiency, while maintaining strong liquidity, capital, and asset quality. The cross-border banking initiative represents a pillar of our ‘Borderless Banking’ strategy and will be progressively expanded across the Group’s banking units to support trade and investment while delivering an integrated digital banking experience.”