Bahrain Islamic Bank (BisB) announced a net profit of BD6.9 million during the nine months ending September 30, compared to net profit of BD5.4 million for the same period last year, an increase of 26.2 per cent. Earnings per share have also increased to 6.54 fils for the period compared to 5.18 fils for the same period last year.
Bank chairman, Dr Esam Abdullah Fakhro, says: “The bank recorded a net operating profit of BD12.6 million compared to BD13 million for the same period last year, a decrease of 2.7 per cent. In addition, the bank recorded a total operating income of BD31.3 million compared to BD32.6 million for the same period last year, a decrease of 3.9 per cent.
“Compared to the end of last year, Islamic finance grew by 2.3 per cent, saving accounts increased by 3.3 per cent and placements with financial institutions increased by 11.7 per cent. Also, total assets decreased by 0.9 per cent from BD1.23 billion to BD1.22 billion. Total expenses were declared at BD18.7 million, a decrease of 4.6 per cent over the same period last year. Total shareholders’ equity stands at BD114 million as of September 30, 2018 compared to BD122 million as of December 31, 2017, a decrease of 6.4 per cent.”
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