By: Enas Bahgat

Mubasher: The financial statements of the banks sector in Bahrain reported a jump of 91.04% in profits during the fourth quarter of 2016 as compared to the same period a year ago.

The banks’ overall profits soared to BHD 63.08 million ($166.2 million) in Q4-16 from BHD 33.02 million ($86.99 million) in Q4-15.

During fiscal year 2016, Bahrain’s banks achieved profits worth BHD 361.96 million when compared to BHD 320.13 million in FY15.

AUB recorded the largest profits of BHD 13.17 million in Q4-16, with earning increasing in FY16 by 166% to BHD 56.41 million.

Ithmaar Holding was the only loser in the banks sector in Q4-16 with a loss of BHD 1.1 million, while its FY16 financials recorded a profit of BHD 5.1 million.