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Sakana posts loss for 2010

Posted on 15 February 2011

At the Board meeting held on 7 February 2011, Sakana Holistic Housing Solutions the Islamic mortgage provider based in Bahrain announced its financial results for the year 2010. Profitability for the year before impairment allowance was BD0.63m against BD0.85m for 2009. After one-off book provisions, the net loss was BD1.63m.
Commenting on the results, Chairman of Sakana Mr. Reyadh Sater said: “Bahrain’s economy seemed to have weathered the global financial crisis relatively well. However, the Bahrain real estate market continued to witness fall in capital values as demand dwindled and over supply remained in most sectors.”………………………………………Full Press Release: Source

 
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