BBK reports 27 percent net profits rise in 1H02
The Manama-based Bank of Bahrain and Kuwait (BBK) recorded a 27 percent increase in net profits in the first half of 2002. The bank’s profits reached 10.3 million Bahraini Dinars ($27.3 million) in the first six months of 2002 compared to eight million dinars during the corresponding period the previous year.
The bank attributed the 17 percent increase in other income and a 10 percent increase in BBK’s core business with net interest income reached BD 12.9 million in the first half of the year compared to BD 1.1 billion in December 2001.
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)
© 2002 Mena Report (www.menareport.com)