Bahrain-based Islamic retail bank Ithmaar registered a net loss of $500,000 in the first quarter compared to a net profit of $4.8 million in the same period last year mainly due to prudent impairment provisions.
Announcing the results on Sunday, the Islamic bank said this was despite a net operating profit of $4.4 million before impairment provisions and taxation, compared to a net operating loss of $2.8 million in the same period last year………………………………………..Full Article: Source