Bahrain banks' statements less profitable in second quarter
Financial statements of Bahraini banks reveal a decline in the second quarter of 2000, with balance sheet figures down from $208.7 billion to $103.7 billion.
The Bahrain Monetary Agency's quarterly statistical bulletin pointed out that all of the banks' divisions experienced a drop in profits for the second quarter. The drop came after the increase in the first quarter — a rise of $3 billion from the 1999 year-end figure of $102.1 billion.
The consolidated balance sheet of the Full Commercial Banks (FCB) dropped BD100.5 million to reach BD3,751.7 million June-end 2000. Loans and advances of FCBs, however, rose 1.7 percent from BD1,355.6 million at the end of March, to BD1,378.8 million at the end of June. Personal and business loans accounted for 34.2 and 57.9 percent of the total respectively.
The financial statements showed a 4.1 percent increase in domestic deposits — from BD2,25 million at the end of March to BD2,341.5 million at the end of June — mostly on account of the private sector and government deposits that grew by BD87.6 million and BD3.9 million respectively.
The consolidated balance sheets of the Offshore Banking Units and those of the Investment Banks both significantly dropped — the former by $700 million, to $90.3 billion, and the latter by $500 million, to $3.4 billion at June-end. — (Albawaba-MEBG)
© 2000 Mena Report (www.menareport.com)