RIYADH: Al-Baraka Bank in Egypt plans to inject $6 million to develop its technological infrastructure to help it expands its digital services, Hazem Hegazy, CEO of the bank, told CNBC Arabia.
“The complete restructuring plan during the past six months was reflected in the indicators, including the increase in the ratio of loans to deposits from 32 percent to 37.5 percent,” said Hegazy.
The bank’s market share ranges between 12 percent and 15 percent of the Islamic banking sector.
Hegazy said the levels of dollar liquidity in the bank are sufficient and acceptable.
