Bucheery and Hijres
Cappinova profits steady
Manama, November 13, 2012
Capinnova Investment Bank, the shari’a compliant investment banking arm of Bahrain-based BBK, has reported a net profit of $418,000 for the three months ended 30th September 2012.
The figure compares with a net profit of $425,000 for the same period in 2011.
The gross revenues for the third quarter in 2012 were $1.9 million in comparison to $2.3 million for the same period in 2011, the bank said.
Capinnova has reported a net profit of $1.6 million for the first nine months of 2012 as compared to a net profit of $2.4 million during the same period in 2011. The gross revenues for the nine months of 2012 were $6 million as compared to $ 7.4 million for the period ended September 30, 2011.
Abdul Kareem Bucheery, chairman at Capinnova Investment Bank said: “We aim to grow our revenues and improve the returns on investments for our stakeholders. We are delighted to have reported profits yet again in the third quarter of 2012 and we will strive to further boost our performance over the last quarter of this year,” added Bucheery.
Jamal Hijres, chief executive officer at Capinnova, said: “We are motivated to achieve stability and strength in our earnings. At Capinnova, we have always stayed focused on our key objectives to mitigate the negative impact of the tough global market conditions.” – TradeArabia News Service