Bahrain-based Islamic bank Ithmaar Bank has reported a net loss of $15.6 million for the first nine months, against a profit of $6.7 million for the same period a year ago.
Ithmaar says operating income rose 14.21 per cent to $161.9 million for the nine months’ perid. “Ithmaar Bank’s core business areas are continuing to do well,” said HRH Prince Amr Mohamed Al Faisal, the bank’s chairman, “This is reflected in the growth in operating income… as well as the total income which grew about four per cent to $356.8 million, compared to $343.9 million for the same period last year.”……………………………………….Full Article: Source