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Bahrain Bourse buoyant on bank gains
- Bahrain: Sunday, November 11 - 2012 at 16:43
The Bahrain All-Share Index gained 0.40% Sunday, finishing at 1,072.87 points. Islamic bank Gulf Finance House surged 4%, while its rival Al Baraka Banking Group surged 3.11%. Earlier in the day, Al Baraka said its that it has achieved a net income of $183m in the first nine months of 2012, an increase of 10% on the net income achieved in the first nine months of 2011. "Similarly, statement of financial positions witnessed good increases," the bank added. Total assets increased by 7%, investments and financing portfolio by 13%, deposits by 7% and total equity by 7% as at the end of September 2012 as compared with the end of December 2011, Al Baraka said in a statement to the Manama-based exchange in its home market Bahrain and to the NASDAQ Dubai.
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Gérard Al-Fil, Financial JournalistSunday, November 11 - 2012 at 16:43 UAE local time (GMT+4)
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