www.bahrainthismonth.com business bites 24 June 2021 Bahrain Car Parks Company (trading symbol: CPARK) has announced its financial results for the three months ended 31 March 2021. As for the company’s financial results for the three months ended 31 March 2021, net profit reached BD199k compared to BD137k reported for the same period last year, an increase of 44%. Basic and diluted earnings per share were at 1.82 fils, compared to 1.26 fils for the same period in 2020. The company reported a total comprehensive income of BD144k, 716% higher compared to BD18k reported in the previous year, and a decrease of 7% decrease in operating income, BD437k compared to BD 468k for the same period in 2020. Commenting on the financial results, Chairman of Bahrain Car Parks Company, Amin Alarrayed, said: “We are delighted with the resilience of our financial results for the first quarter of the 2021. The company continues to invest in world class technologies and solutions to upgrade the customer journey for both public and private clients.” AGAINST ALL ODDS National Bank of Bahrain B.S.C. (NBB) has reported a 1.3% increase in its net profit attributable to equity shareholders to BD 15.6 million (USD 41.4 million) for the three months ended 31 March 2021, compared to BD 15.4 million (USD 40.8 million) in the same period of 2020. The increase in net profit is predominantly due to lower provisioning levels in 2021, as 2020 included precautionary provisioning requirements attributable to the pandemic. Total comprehensive income attributable to NBB’s equity shareholders for the quarter increased to BHD 16.1 million (USD 42.7 million) compared with a comprehensive loss attributable to NBB’s equity shareholders of BHD 39.3 million (USD 104.2 million) in the same period of 2020. The increase is predominantly attributable to the mark-to-market movements of the Bahrain Sovereign bond portfolio. Diyar Al Muharraq, one of the largest real estate development companies in Bahrain, has announced the launch of its graduate internship programme, Tumouh, which will take place from July to December this year. The programme is designed for Bahraini graduates with a Bachelor’s degree in the fields of engineering such as civil engineering, electrical engineering, architecture and real estate development. During their training, the selected graduates will be mentored by a team of Diyar Al Muharraq experts while benefiting from hands-on experience through placement across the Company’s various engineering and real estate development departments. The programme will empower the interns with skills through practical and online training courses delivered by global institutions. “We firmly believe in the importance of investing in today’s youth and providing them with opportunities to enhance their skills and talents. This programme will enable Bahraini graduates to further improve their skills, hone their talents, fuel their ambition, and ultimately enhance their CVs, making it easier for them to enter the job market in the future,” said CEO of Diyar Al Muharraq, Eng. Ahmed Ali Alammadi. Applications will be accepted starting from May 5 until May 31. INVESTING IN TODAY’S YOUTH The Bahrain Institute of Banking and Finance (BIBF) received an official delegation from the Abdulla bin Khalid College for Islamic Studies to discuss joint cooperation between the two parties in offering training programs in the fields of Islamic banking and information technology. The BIBF Director, Dr. Ahmed Al Shaikh, welcomed the delegation, praising the efforts made in establishing the Abdulla bin Khalid College for Islamic Studies, as a great achievement that will serve the educational process in Bahrain. The meeting also highlighted the BIBF’s expertise in offering academic and training programmes, and concluded with forming a committee to coordinate joint activities. Due to the international trust in the BIBF as a Centre of Excellence for specialised training, an increased number of delegations are visiting the institute to discuss ways of cooperation, whereby training arrangements are done for human capital development locally, regionally and on a global scale. A Joint Cooperation A PROFITABLE QUARTER
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