08.03.2013 - NBB plans to acquire Bahrain Islamic Bank
The National Bank of Bahrain (NBB) is likely to acquire the loss-making Bahrain Islamic Bank (BisB) and give itself an Islamic finance arm, the Trade Arabia News Service said. “We are in talks with BisB and we expect to make an announcement early next week,” it quoted Almoayyed as saying in an interview. “We see this as a business opportunity as we do not have an Islamic banking operation and under our management we believe it will do well.” Trade News said that last year, BisB, the first Islamic bank in Bahrain, posted a net loss of 36 million Bahrain dinar ($94.95 million) compared with a net loss of 17 million Bahrain dinar for 2011...............................................Full Article: Source
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