Al Baraka Egypt Bank has posted a 57% increase in first-half net profit to EGP65.6m ($11.5m), Reuters has reported. The Shari'ah-compliant lender, in which Bahrain's Al Baraka Banking Group (ABG) has a controlling stake, revealed in May its net profit had more than tripled in the first quarter to EGP44m. The bank is expected to buy a stake in Malaysia's Bank Muamalat by the end of 2010 and also plans to open a representative office in Libya.