| In a press release issued by the Bank, Mr. Khalid Abdulla Al-Bassam - Chairman of the Board of Directors announced that the Board has approved the Financial Statements for the period ended on 31 March 2012 where the Bank registered BD543 thousand as net profit for the first quarter of this year compared to BD1.5m for the same period last year.
Khalid Al-Bassam then explained that BD2m in operating profit were realized compared to BD2.5m for the same period last year and the Board has taken provisions of BD1.5m as a precaution against any unforeseeable deterioration in asset values compared to BD1m for the same period last year. The income has all been generated from major core activities of the Bank...............................................Full Article: Source
|