Al Baraka Bank Renews Commitment to Libya

Bahrain's Al Baraka Banking Group, which on Sunday announced a 10 percent jump in net profits for the first nine months of the year, has renewed its commitment to the Libyan market.

With regard to geographic expansion and entering new markets, the company's President and CEO Mr. Adnan Ahmed Yousif (pictured) said that the it has continued 'activating' its representative office in Libya, in preparation for an expansion in the Libyan market, and with a view to providing a range of banking services to clients from individuals, companies and government agencies.

At the end of 2010, the Group was at an advanced stage in establishing a representative office in Libya, one of its aims under its medium term expansion strategy, but plans were put on hold due to the revolution in 2011.

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