National Bank of Bahrain (NBB) recorded a net income of 22.4 million Bahraini dinars ($59.4 million) in 2003, rising from BD 19.25 million in 2002.
According to a press release, the increase in net income resulted from steady growth in the bank's core business and good performance by the bank's treasury, despite heightened geopolitical uncertainties during the first half of the year.
The bank managed to raise the level of return for the shareholders, as reflected in an increase in the earnings per share to 49.8 fils per share, as compared with 42.8 fils per share in the previous year.
At year-end 2003, NBB's total assets stood at BD 1.2 billion, an increase of 12 percent as compared with BD 1.1 billion at year-end 2002. The growth in total assets resulted from an expansion of the loans and advances portfolio in Bahrain and the Gulf Cooperation Council (GCC) region and from an increase in the investment securities.
Established in 1957, NBB is a nation-wide network with 25 branches, 38 ATMs and over 2,500 point of sale terminals. — (menareport.com)
© 2004 Mena Report (www.menareport.com )