Seera’s net income reaches $5.1 million

Posted by on Aug 8th, 2013 and filed under Islamic Finance. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.

Bahrain-based Seera Investment Bank has reported a net income of $5.1 million for the first half of this year compared with a net income

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of $1.7m for the same period last year.
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Total income was $8.5m compared with $4.6m last time. The increase in income was attributed to an increase in management fees on assets under management and the early settlement of financing relating to the bank's aviation portfolio. Total assets of the bank were $349m. Seera's balance sheet remains strong with a capital adequacy ratio of 23 per cent and liquid assets of $33m. Profit for the second quarter was $5.5m compared with a profit of $830,000 for the same period last year. Seera has investments in the industrial manufacturing and transportation sectors in addition to smaller investments in the utilities and real estate sectors.

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