This was announced by Khalid Abdulla Al-Bassam Chairman of the board after a meeting which had approved the interim consolidated financial statement for the first half of the year 2011.
The dank had reported BD 1.7 million net profits for the three months from April to June 2011 as compared to a net loss of BD 6.9 million for the same period of last year.
The Chairman said that the positive results have been realized at the same time of concluding the offering of the share rights issue in which the capital of the bank had been increased to a stronger level. “In addition the bank has seen improvements in its finance and investment portfolios,” he said, and also highlighted that the bank was progressing well with a stronger capital and liquidity base.
Mohammed Ebrahim Mohammed CEO said that the good results were achieved as a result of the hard efforts exerted by the bank so as to improve and develop its finance and investment portfolios.
“The efforts paid off by attaining better results for its shareholders and depositors and to continue performing as leading Bank providing excellent services to all its customers through its branch network which is all over Bahrain,” he added.
“The bank has signed an agreement to build five financial malls in Muharraq, Isa Town, Riffa, Hamad Town and Budaiya to be completed before the end of next year. This will contribute to a great extent in providing a higher level of financial and banking services to our customers with a nicer and more comfortable business environment,” he said.