NFH’s net profit for H1 hits $1.25m
Manama, August 16, 2010
Bahrain-based National Finance House (NFH) has made BD472,000 ($1.25 million) in net profit in the first half of 2010 compared with a net profit of BD470,000 during the same period last year.
Total income rose by four per cent to reach BD1.1 million and the total of interest received increased by 6 per cent to reach BD1.5 million.
"In spite of the impact of the financial crisis and fierce competition in the car finance market, NFH was able to achieve good results in the first half of 2010," said chairman Farouk Almoayyed.
"The company's assets increased by 2 per cent to reach BD34 million and the shareholders' equity rose by 5 per cent to reach BD9.8 million,” he added.
NFH provides finance services for buying cars, light and heavy vehicles in addition to acting as brokers engaged in all types of insurance. – TradeArabia News Service
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