Bahrain Islamic Bank realizes net profit for Q2-2013

Mr. Abdul Razak Abdulla Al-Qassim – Chairman of the Board of Directors announced that the Board has approved the Financial Statements for the period ended on 30th June 2013. The Bank registered BD2.4m as net profit for the first half of the year after deducting BD5.7m as provisions compared to a net loss of BD15.8m for the same period last year. The Board has taken provisions of BD5.7m as a precautionary step against any unforeseeable deterioration in asset values compared to BD15.9m for the same period last year. Net operating profit for the three months of the second quarter registered BD3mn compared with BD1.4m for the same period in 2012. These results are considered good considering the prevailing economic circumstances.

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