ZamZam Bank's Profit Soars, But High Liquidity Looms Large

Incorporated in 2021, ZamZam Bank recently turned a corner by posting a net profit of 110.31 million Br, reversing previous losses and outperforming competitors in the emerging Sharia-compliant banking industry. Its closest competitor, Hijra Bank, trailed by nearly 10 million Br. ZamZam Bank’s net profit margin reached 17.22pc of total income, and income from financing and investments accounted for 71.7pc of operating revenue, a sign that growing customer acceptance of its Sharia-compliant banking model.