Manama I June 8, 2026
Al Baraka Group B.S.C (C) (“Group”) commenced 2026 with solid financial and operational performance, reaffirming its continued ability to deliver sustainable growth and building on the strong momentum achieved during 2025, despite an increasingly challenging and volatile global economic environment.
The Group reported a notable growth in net income attributable to the shareholders of the parent company, which increased by 12% to reach US$52 million in the first quarter of 2026, compared to US$46 million in the corresponding period of 2025. Basic earnings per share stood at US cents 4.31 in Q1 2026, compared to US cents 3.84 in the same period last year.
This distinguished performance reflects the Group’s strong ability to maximize returns from its core businesses while enhancing the quality and sustainability of revenues across its various business segments.
Total comprehensive income attributable to the shareholders of the parent company reached US$69 million in the first quarter of 2026, compared to US$34 million in the corresponding period of the previous year, representing a sharp increase of 102%, despite fluctuations in foreign currency translation reserves. This increase was primarily driven by the net gain arising from hyperinflation re-measurement during the period.
Meanwhile, total net income increased by 2% to US$93 million in the first quarter of 2026, compared to US$91 million in the corresponding quarter of 2025, supported by the disciplined expansion of financing and investment portfolios, as well as improved operating margins, despite inflationary pressures and the continued rise in global funding costs.
As to the financial position, the Group continued to maintain a robust capital base, with total equity attributable to the shareholders of the parent and Sukuk holders reaching US$1.42 billion at the end of March 2026, compared to US$1.37 billion at the end of December 2025, reflecting a 3% rise. Total equity stood at US$2.27 billion, compared to US$2.19 billion at year-end 2025, representing a 4% growth, mainly driven by the recognition of the hyperinflation fair value reserve.
The Group also continued to expand its business footprint, with total assets rising to US$31.37 billion at the end of March 2026, compared to US$31.01 billion at the end of 2025, recording a growth of 1%, supported by higher financing volumes and stronger presence in key markets, particularly in Turkey and Jordan.
This resilient performance underscores the success of the Group’s strategy in maintaining a balanced approach between disciplined growth and financial prudence, while effectively capitalizing on high-quality opportunities across its markets and maintaining advanced standards of risk management and compliance.
Commenting on these results, Shaikh Abdullah Saleh Kamel, Chairman of Al Baraka Group, stated:
“The first quarter 2026 results reflect the strength of Al Baraka Group’s strategic direction and its ability to achieve balanced and sustainable growth under varying economic conditions. During the quarter, we continued to strengthen our position in key markets, leveraging our diversified business model and broad geographic presence, which enabled us to transform challenges into tangible growth opportunities.
We view these results as part of a long-term journey focused on maximizing value for our shareholders, enhancing operational efficiency, expanding our customer base, and maintaining our firm commitment to governance, sustainability, and serving the communities in which we operate.”
For his part, Mr. Houssem Ben Haj Amor, Board Member and Group Chief Executive Officer, commented:
“The strong performance achieved during the first quarter of 2026 reaffirms the resilience of the Group’s operational fundamentals and the success of our strategy of diversifying income streams and enhancing returns from core activities. Our banking units continued to deliver steady growth, supported by increasing demand for financing and investment products, in addition to the significant progress achieved in cross-border banking services.
Our strategic initiatives, most notably the Trade Finance Platform and the ‘Borderless Banking’s initiatives, have further expanded our business reach and strengthened our competitive position both regionally and internationally. Amid the ongoing uncertainty in the global economy, we remain focused on maintaining prudent risk management, accelerating digital transformation, and developing innovative banking solutions that support sustainable growth and reinforce market confidence in the Group’s performance.”
The Group reported a notable growth in net income attributable to the shareholders of the parent company, which increased by 12% to reach US$52 million in the first quarter of 2026, compared to US$46 million in the corresponding period of 2025. Basic earnings per share stood at US cents 4.31 in Q1 2026, compared to US cents 3.84 in the same period last year.
This distinguished performance reflects the Group’s strong ability to maximize returns from its core businesses while enhancing the quality and sustainability of revenues across its various business segments.
Total comprehensive income attributable to the shareholders of the parent company reached US$69 million in the first quarter of 2026, compared to US$34 million in the corresponding period of the previous year, representing a sharp increase of 102%, despite fluctuations in foreign currency translation reserves. This increase was primarily driven by the net gain arising from hyperinflation re-measurement during the period.
Meanwhile, total net income increased by 2% to US$93 million in the first quarter of 2026, compared to US$91 million in the corresponding quarter of 2025, supported by the disciplined expansion of financing and investment portfolios, as well as improved operating margins, despite inflationary pressures and the continued rise in global funding costs.
As to the financial position, the Group continued to maintain a robust capital base, with total equity attributable to the shareholders of the parent and Sukuk holders reaching US$1.42 billion at the end of March 2026, compared to US$1.37 billion at the end of December 2025, reflecting a 3% rise. Total equity stood at US$2.27 billion, compared to US$2.19 billion at year-end 2025, representing a 4% growth, mainly driven by the recognition of the hyperinflation fair value reserve.
The Group also continued to expand its business footprint, with total assets rising to US$31.37 billion at the end of March 2026, compared to US$31.01 billion at the end of 2025, recording a growth of 1%, supported by higher financing volumes and stronger presence in key markets, particularly in Turkey and Jordan.
This resilient performance underscores the success of the Group’s strategy in maintaining a balanced approach between disciplined growth and financial prudence, while effectively capitalizing on high-quality opportunities across its markets and maintaining advanced standards of risk management and compliance.
Commenting on these results, Shaikh Abdullah Saleh Kamel, Chairman of Al Baraka Group, stated:
“The first quarter 2026 results reflect the strength of Al Baraka Group’s strategic direction and its ability to achieve balanced and sustainable growth under varying economic conditions. During the quarter, we continued to strengthen our position in key markets, leveraging our diversified business model and broad geographic presence, which enabled us to transform challenges into tangible growth opportunities.
We view these results as part of a long-term journey focused on maximizing value for our shareholders, enhancing operational efficiency, expanding our customer base, and maintaining our firm commitment to governance, sustainability, and serving the communities in which we operate.”
For his part, Mr. Houssem Ben Haj Amor, Board Member and Group Chief Executive Officer, commented:
“The strong performance achieved during the first quarter of 2026 reaffirms the resilience of the Group’s operational fundamentals and the success of our strategy of diversifying income streams and enhancing returns from core activities. Our banking units continued to deliver steady growth, supported by increasing demand for financing and investment products, in addition to the significant progress achieved in cross-border banking services.
Our strategic initiatives, most notably the Trade Finance Platform and the ‘Borderless Banking’s initiatives, have further expanded our business reach and strengthened our competitive position both regionally and internationally. Amid the ongoing uncertainty in the global economy, we remain focused on maintaining prudent risk management, accelerating digital transformation, and developing innovative banking solutions that support sustainable growth and reinforce market confidence in the Group’s performance.”