Bahraini commercial banks’ profits Increased 8% in 9 months compared to last year
The total returns of the seven local retail banks listed on the Bahrain Stock Exchange for the first nine months of 2017 was $ 793 million compared to $ 735 million during the same period in 2016.
This means that these banks have been able to increase their profits by an average of 8% during the same period.
The listed retail banks are: National Bank of Bahrain, BBK, Ahli United Bank, Bahrain Islamic Bank, Ithmaar Bank, Al Salam Bank and Khaleeji Commercial Bank.
Commenting on the results, Dr. Waheed Al Qassim, CEO of the Bahrain Association Bank, said that the performance of the seven local retail banks listed on the Bahrain Stock Exchange has improved significantly during the first nine months of 2017 compared to the same period last year. This confirms the quality of these banks’ assets and their continued ability to support the national economy.
Dr. Al Qasim added that the financial results of these banks prove once again the soundness and quality of these banks, which has been improving over the past years in spite of the surrounding economic conditions and the decline in oil prices.
“This reflects the solid financial conditions of these banks, especially liquidity, asset quality and capital adequacy” he added.
“This also indicates active and strong contribution to the financing of all sectors and economic activities in the country due to the increasing role of these banks in driving the economic growth in the country”. Dr. Al Qasim concluded.