Al Salam Bank-Bahrain reports half yearly net profit of US$40.5 million
Al Salam Bank Bahrain announced a half-yearly net profit of BD15.3 million (US$40.5 million) for the period ended 30 June 2008.
The total assets as of 30 June 2008 grew by 63% from 31 December 2007 to reach BD647 million (US$1,716 million). In a market marred by financial crisis and tight liquidity, the Bank has managed to increase its institutional and customer deposits and is working to further enhance liability management. The Banks gross operating income for the period amounted to BD21.3 million (US$56.6 million), compared to BD19.0 million (US$50.4 million) in corresponding period in 2007 and the net income represented a 19.8% annualized return on average shareholders’ equity.