Mubasher: National Bank of Bahrain (NBB) reported a growth in profits by 1.1% in the fourth quarter of 2016 compared to the same period in the year before.

According to the bank’s statement to the Bahrain Bourse on Monday, net profits in Q4-16 BHD 12.03 million ($31.04 million) compared to BHD 11.9 million ($30.7 million) in Q4-15.

Annual net profits grew by 5.4% in 2016 and reached BHD 58.24 million compared to BHD 55.26 million in 2015, as shown by the financial results.

Profit per equity share went up to 50.6 fils in 2016 from 48.5 fils in the previous year, the statement indicated.

The bank’s board of directors (BOD) recommend the distribution of cash dividends to its shareholders at 25 fils per share or 25% of capital, as well as 10% bonus shares or one bonus share for every 10 held.