13.02.2013 - Bahrain Islamic Bank increases its provisions & incurs BD 36 mln loss for the year 2012
Bahrain Islamic Bank announced that it has incurred a net loss of BD36 million for the year ended on 31st December 2012 as compared to a net loss of BD 17 million for the year 2011, after increasing its provisions portfolio by BD 41 million, with last quarter share of BD 15 million as compared to a net loss of BD 21 million for the last quarter of 2011. Hence, 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. It should be noted that the Bank was able to register operating profit to the tune of BD 4.9 million as compared to BD 6.6 million for last year, and a net loss of BD 15.3 million for the last quarter of the year. (Press Release)
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