Bahrain National Holding holds its 2008 AGM

The meeting was officiated by BNH's Chairman, Mr. Farouk Yousif Almoayyed. The shareholders approved, at the meeting, BNH's 2008 results which had registered a net profit of BD2m.

The result represents a 5% average return on shareholders' equity. Moreover, in view of the continued profitable operations of the Company, the Board recommended a cash dividend of 15% on paid-up capital, amounting to BD1.6m.

"2008 has certainly been a challenging year for the Group, given the global financial crisis, but we are pleased with the success BNH has achieved due to its strong underwriting results, prudent strategic investments and the excellent business achievements throughout the year," commented Mr. Farouk Almoayyed, Chairman of BNH.

Mr. Mahmood Al Soufi, Chief Executive at BNH also commented, "Though 2008 has been a challenging year, globally and locally, the Group is pleased to announce - in this Report - an increased underwriting profit and significant strategic investments that should contribute to long term growth and profitability. And we shall continue operating these investment strategies with the same level of prudence to achieve the growth of our core businesses, locally and regionally."