Bank of Bahrain and Kuwait reports 27 percent net profits rise in 1Q 2002
The Manama-based Bank of Bahrain and Kuwait (BBK) recorded a 27 percent increase in net profits in the first quarter of 2002. The bank earned 5.2 million Bahraini Dinars ($13.7 million) in the first three months of 2002 compared to four million dinars during the corresponding period the previous year, reported KUNA.
BBK reported an asset increase from BD 1.1 billion in 1Q FY01 to BD 1.2 billion in the first quarter of 2002 and an increase of loans from BD 494 million to BD 516 million during the same period.
BBK was established 1971 with its shareholding divided equally between Bahraini individuals and two quasi-governmental institutions, and Kuwaiti financial institutions. Apart from its head office in the Bahrain capital of Manama, the bank currently operates 20 branches and 23 automatic teller machines (ATM) situated across the country. — (menareport.com)
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