Sat, 05 June 2021
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.