Al Baraka Group B.S.C. (C) reported total net income of $204 million for the first half ended June 30, 2026, representing a 10% increase from $185 million recorded in the corresponding period of 2025. The Group also reported higher profitability attributable to shareholders of the parent company, with net income increasing 14% to $113 million from $99 million a year earlier. The results were announced alongside the Group’s second quarter performance and reflect growth across several financial and operational indicators despite geopolitical and economic challenges and volatility in global markets.
The Group attributed its performance to the geographic diversification of its operations, the established market positions of its banking units in their respective countries, diversified income sources and improvements in the quality of its financing and investment portfolios. Strong performances from key banking units, particularly those in Türkiye, Jordan and Algeria, supported the overall results during the first half of 2026 and contributed to the increase in financing and investment activity across the Group.
During the second quarter, Al Baraka Group recorded a 16% increase in net income attributable to shareholders of the parent company, which reached $61 million compared with $53 million in the same quarter of 2025. Basic earnings per share also increased to 3.59 US cents from 2.89 US cents. Total net income for the quarter rose 18% to $111 million from $94 million, supported by stronger business activity across the Group’s banking units, particularly in Türkiye, Algeria and Jordan.
Total comprehensive income attributable to shareholders of the parent company also recorded substantial growth during the second quarter. The figure increased 46% to $73 million compared with $50 million in the corresponding period of 2025. According to the Group, the increase was primarily supported by the positive impact of applying hyperinflation accounting requirements, which contributed to the improvement in comprehensive income during the reporting period.
For the first six months of 2026, basic earnings per share increased to 7.91 US cents compared with 6.73 US cents in the first half of 2025. Total comprehensive income attributable to shareholders of the parent company increased 73% to $145 million from $84 million. The increase accompanied the Group’s improvement in net income and reflected the impact of hyperinflation accounting on its financial results.
Al Baraka Group also reported an improvement in its equity position during the period. Total equity attributable to shareholders of the parent company and Sukuk holders increased to $1.48 billion at the end of June 2026 from $1.37 billion at the end of December 2025, representing an 8% increase. Total equity also rose 7% to $2.35 billion from $2.19 billion over the same period, with the Group attributing the increases primarily to the accounting impact associated with hyperinflation.
The Group’s total assets expanded during the first half of the year, reaching $32.96 billion at the end of June 2026 compared with $31.01 billion at the end of 2025. This represented growth of 6%, supported by increases in financing and investment activities across the Group’s banking units. Türkiye, Jordan and Algeria were identified as key markets contributing to the growth in these activities and to the overall strengthening of the Group’s financial position.
Alongside its financial performance, Al Baraka Group continued efforts to integrate its banking operations across different markets. During the first half of 2026, the Group expanded its cross border banking services by launching an account opening and management service between Al Baraka Islamic Bank in Bahrain and Al Baraka Bank Egypt. The service followed the successful introduction of a similar facility between the Group’s Bahrain and Türkiye banking units.
The cross border service is intended to provide customers with a more seamless digital banking experience across the markets where Al Baraka Group operates. The initiative forms part of the Group’s broader Borderless Banking strategy, which seeks to strengthen connections between its banking units and provide customers with access to integrated banking services across different markets.
Shaikh Abdullah Saleh Kamel, Chairman of Al Baraka Group, said the first half results demonstrated the strength of the Group’s business model and its ability to deliver growth despite geopolitical and economic challenges. He highlighted geographic diversification, the established presence of the Group’s banking units and customer relationships as important factors supporting resilience against market volatility and enabling the Group to pursue opportunities for growth.
Houssem Ben Haj Amor, Board Member and Group Chief Executive Officer, said the results reflected the execution of the Group’s strategic priorities. He pointed to growth in operating revenues, expansion of financing and investment activities and improved operational efficiency, while noting that the Group maintained liquidity, capital and asset quality.
Ben Haj Amor also identified the cross border banking initiative as an important component of the Group’s Borderless Banking strategy. The service is expected to be progressively expanded across Al Baraka Group’s banking units, with the objective of supporting trade and investment while providing customers with a more integrated digital banking experience across the Group’s operating markets.
Overall, Al Baraka Group’s first half results show higher income, stronger shareholder profitability, increased equity and growth in total assets. The Group’s banking units in Türkiye, Jordan and Algeria remained important contributors to its performance, while its cross border digital banking initiatives added another element to its broader strategy for connecting customers and banking operations across its international network.
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