Venture Capital Bank's first quarter net profit surge to $13.86m

Dr. Ghassan Ahmed Al Suliman, Chairman of VCBank conveyed his gratitude and thanks to VCBank Executive Management and Staff for their dedication, commitments and efforts towards the banks' vision in achieving impressive growth, which will highly reflects in VCBanks' Local and regional position.

Mr. Abdullatif Mohammed Janahi, Venture capital Bank Board Member and Chief Executive Officer highlighted the main reasons behind the remarkable success in the first quarter, by saying: "our key success factor lays on the bank's ability in implementing the strategic plans drawn by its Board of Directors and adopting it in all its investments in the Middle East region and North Africa (MENA)."

He also explained the mechanism of the bank's investments that is based on an integrated model between three distinct investment divisions. These divisions follow a diligent investment process and function as per the best practice in the investment banking domain.

"The outcome of this investment opportunity evident in terms of the growth of the Bank's assets since the inception of the bank. Total assets reached during the first quarter of this year $198m, up by 118% compared to $91m in the same period of 2007," added Mr. Janahi.