BisB reports $29m net profit, up 20pc
MANAMA, February 23, 2016
Bahrain Islamic Bank (BisB) has reported a net profit of Dh11.2 million ($29.7 million) for last year, compared to BD9.3 million for the previous year, an increase of 20 per cent.
The hank has registered net profit of BD2.6 million in the last quarter of the year, as compared to net profit equal to BD2.7 million for the same period last year, a decrease of four per cent, said a statement.
Abdul Razak Al Qassim, chairman, said that in the year ended on December the bank registered BD41.7 million as gross income compared to BD42.9 million for last year, a decrease of three per cent.
Meanwhile, the board of directors has decided to set aside provisions amounting to BD9 million during the year as compared to BD11.9 million for last year, he added. - TradeArabia News Service
