EARNINGS WATCH- Al Baraka Bank reported EGP 1.25 bn in net income in 2021, down 10% y-o-y, according to the bank’s financial statement (pdf). Al Baraka’s net interest income came in at EGP 2.76 bn, up 12% y-o-y.

MARKET ROUNDUP-

The EGX30 fell 0.3% at today’s close on turnover of EGP 587 mn (43.2% below the 90-day average). Local investors were net buyers. The index is down 3.5% YTD.

In the green: Ibnsina Pharma (+2.3%), e-Finance (+2.0%) and Orascom Development Egypt (+1.7%).

In the red: MM Group (-1.6%), Heliopolis Housing (-1.5%) and TMG Holding (-1.4%).

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