Al Baraka planning to set up investment arm in 2H18
Al Baraka Bank is planning to set up a holding company that would act as the bank’s investment arm in 2H18, according to the bank’s CEO, Ashraf El Ghamrawi. He added that the feasibility studies for the new company are in their final stages, and that the company’s authorised capital would not be less than EGP200mn and its paid-up capital would be EGP50mn.
Al Baraka Bank Egypt: EGP15.94 as of 15 Apr. 2018, Rating: Buy, TP: EGP22.00/share, MCap: USD163mn, SAUD EY/SAUD.CA
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