Wednesday 21, February 2018 by

Al Baraka Banking Group profits hit by currency woes

Al Baraka Banking Group (ABG) reports 2017 2017 was an exceptional year regarding the fall in local currencies of a number of Arab and Middle East countries where ABG units operate. The bank’s profits, therefore, were affected by the decrease of local currencies of four major banking units of the Group against the US dollar, reflected in the reported figures of profits in US dollars for 2017 compared to the same period in 2016.

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