The Bahrain Commercial Facilities Company (BCFC) recorded a net profit increase of one million Bahraini dinars ($2.65 million) for 2001, a 37 percent increase compared to figures from 2001, reported the Bahrain Tribune .
BCFC Board of Directors Chairman Hassan Khalia Jalahma attributed the growth in 2001 to the company’s portfolio for the year and its tight controls over underwriting standards. He also linked last year’s success to strong performances by BCFC subsidiaries, injecting BD 3.76 million into the company’s net profits, compared with BD 2.7 million in 2000.
Established in 1983, BCFC provides financing for durable goods and vehicles, in addition to mortgage loans. The major shareholders of the company are the Bank of Bahrian and Kuwait, the General Organization for Social Insurance, the Pension Fund Commission and the National Bank of Bahrain. The National Motor Company (NMC) and Tasheelat Insurance Services Company (TISCO) are the two totally owned subsidiaries of the BCFC. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
