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Bahraini Banks’ profits grow 5% in Q2-19

Bahraini Banks’ profits grow 5% in Q2-19
BBK posted an 11% year-on-year increase in Q2-19 profits
KHCB
KHCB
0.00% 0.05 0.00
Al Salam International
SIIS
-0.95% 0.41 -0.00
BBK
BBK
0.37% 0.54 0.00

AUB
AUB
0.97% 0.94 0.01
BISB
BISB
1.67% 0.12 0.00
Al Salam Bank
SALAM
1.12% 0.09 0.00

By: Mohamed Hesham

Mubasher: The financial statements of Bahraini banks listed on Bahrain Bourse (BHB) indicated a 4.9% year-on-year increase in profits during the second quarter of 2019.

The profits of the period soared to BHD 96.97 million ($257.21 million) in Q2-19 from BHD 92.41 million ($245.12 million) in Q2-18, according to data collected by Mubasher based on BHB’s disclosures.

The Bahraini banking sector includes five banks; Bank of Bahrain and Kuwait (BBK), Al Salam Bank, Khaleeji Commercial Bank, Ahli United Bank - Bahrain (AUB Bahrain), and Bahrain Islamic Bank (BisB).

BBK posted an 11% year-on-year increase at BHD 20 million in the net profits attributable to shareholders during Q2-19, when compared to BHD 18 million.

The bank ascribed the increase in net profits to the rise in net income from interests to BHD 28.41 million in Q2-19 from BHD 26.7 million in Q2-18.

Al Salam Bank logged a 63.4% profit growth at BHD 6.7 million in Q2-19 from BHD 4.1 million in Q2-18.

AUB Bahrain recorded a 1.1% increase at BHD 69.19 million in the net profits attributable to shareholders during Q2-19, when compared to BHD 68.46 million in Q2-18.

In contrast, Bahrain Islamic Bank posted an 18% year-on-year decline at BHD 1.06 million in the net profits attributable to shareholders during Q2-19 from BHD 1.29 million.

The profits of Khaleeji Commercial Bank significantly shrank by 96.9% to around BHD 17,000 in Q2-19, when compared to about BHD 577,000 in Q2-18.

 

Translated by: Amal A. Wahaab