Bahrain Islamic Bank incurred a net loss of BHD 36 million for 2012, as compared to a net loss of BHD 17 million for the year 2011, after increasing its provisions portfolio by BHD 41 million, with last quarter share of BHD 15 million as compared to a net loss of BHD 21 million for the last quarter of 2011.
“This would be the end of a difficult phase and the bank is looking eagerly ahead for returning back to profitability and the enhancement of shareholders’ equity,” said the bank in a statement. “It should be noted that the bank was able to register operating profit to the tune of BHD 4.9 million as compared to BHD 6.6 million for last year, and a net loss of BHD 15.3 million for the last quarter of the year.”……………………………………….Full Article: Source