BisB reports BD3.3 million H1 net profit
Manama : Bahrain Islamic Bank (BisB) announced that it has realised a net profit of BD3.3 million for the six month period ended on 30th June 2017 compared to a net profit of BD3.1m for the same period last year, an increase of 6 per cent. Achieving total income of BD21m compared to BD19m for the same period last year, an increase of 11pc. Total expenses increased to BD12.7m an increase of 5.9pc over the same period last year which was equal to BD12m. Net impairment provisions for the period amounted to BD4.6m compared to BD3.6m for the same period last year.
The bank recorded a net profit of BD2.7m in the three months ended on 30th June 2017 compared to BD1.4m for the same period of last year, while total revenue registered BD10.9m compared to BD9.1m for the same period last year.
Total expenses during the three months ended on 30th June 2017 amounted to BD6.4m compared to BD6m for the same period last year, while net provisions for the three months ended on 30th June 2017 amounted to BD1.8m compared to BD1.7m for the same period of last year.
Dr. Esam Abdulla Fakhro, Chairman of the Bank, said: “The bank continues to follow its new policy adopted by the Board of Directors, which focuses on the large, medium and small companies sector in line with the expectations of the Board and the opportunities available in the market.
On his part, Hassan Amin Jarrar, Chief Executive Officer of the Bank, said: “Islamic finances witnessed an increase of 1.2pc, TEJOORI ALISLAMI accounts and other savings accounts increased by 5pc as compared to 31st December 2016, as well as an increase in current accounts by 9pc and deposits from financial institutions by 84pc as compared to 31st December 2016.”
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