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Islamic Finance Briefing - Categorized | Banking, Performance more

Bahrain Islamic Bank faces loss on bad loans

Posted on 17 July 2009

From Business24-7.ae: Bahrain Islamic Bank swung to a net loss in the second quarter as it booked provisions against bad loans after the high-profile defaults of two major Saudi companies, the bank said yesterday.

The bank’s net loss in the quarter ended June 30 was BD3.83 million (Dh37.31m, $10.16m) according to Reuters calculations, compared with a net profit of BD15.77m in the year-earlier quarter………Full Article: Source

 
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