BMI announces first quarter net profit of $1.4m

Notes and media contacts

About BMI Bank B.S.C. (c):

BMI, an associate of BankMuscat the largest financial services provider in Oman today, is a retail bank, registered in Bahrain and regulated by the Central Bank of Bahrain offering a full range of retail and commercial banking services. BMI Bank operates in Bahrain through a network of 8 branches and 25 ATMs with net banking for easy access to services. The online platforms offered by BMI were recently awarded the prestigious Bahrain e-Content Award 2009 in the e-Banking category, recognizing ease of use of its comprehensive e-banking services in a safe and secure environment in which to conduct personal and business transactions.

BMI also operates an Offshore Bank in the Seychelles, a branch in Qatar and has a 21.33% shareholding in Gulf African Bank in Kenya. BMI owns the Diners Club Services Bahrain W.L.L and operates the Diners Club cards franchise in Bahrain, Syria and Yemen. BMI's shareholders include some of the strongest and most respected financial institutions across the GCC, including BankMuscat. BMI, rated as Investment Grade, maintains total equity (share capital and reserves) of $341m, an increase of 234% from the $102m as at 31st December 2007. The increase, a result of a fresh injection of $250m from the existing shareholders, will be used to fund the banks organic growth and provide the necessary capital strength in line with the bank's strategy.

BMI currently offers its customers a range of retail products and services including savings and current accounts, Al Mazyona saving certificates, Sapphire, its Premier Banking service, credit cards including Diners Club and La Carte, a co-branded credit card in partnership with Geant Hypermarket Bahrain, consumer and vehicle loans, mortgages and fixed deposits. In addition to Retail Banking, BMI offers full SME Banking, Premier Banking, Private Banking, Corporate Banking, Islamic Financial Services, and Treasury services.

For further information, please contact:

Sara Jabbari
Senior Account Executive-PR
Ogilvy & Mather Public Relations
Office: +973 17 561729
Fax: +973 17561757