Al Baraka Bank Egypt 4Q2015 net profit misses EFG Hermes estimate
Al Baraka Bank Egypt reported 4Q2015 net income of EGP56 million, a decline of 1% Y-o-Y and 18% Q-o-Q. The actual earnings in 4Q2015 missed our forecast of EGP78 million by 27%. FY2015 net profit stood at EGP265 million, up 18% Y-o-Y, coming in 7% below our forecast of EGP286 million. (Reuters, Elena Sanchez-Cabezudo, Rajae Aadel)
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