BMB Investment Bank reports total income $6.1m in Q2 2012
- Bahrain: Sunday, August 26 - 2012 at 12:50
- PRESS RELEASE
Bahrain Middle East Bank (B.S.C) announced the results of its six month period ended 30 June, 2012 - with total income reaching $6.1m as compared to $6.0m in the same period 2011 amidst a challenging macro-economic market environment.
Other highlights for the period included: Net income for the period amounted to $1.8m (H1-2011: $2.0m) Net income for the three month period ended June 2012 amounted to $0.15m (Q2-2011: $1.1m).
Capital adequacy continued to remain strong having shown consistent improvement to 28.0% at end June 2012 as compared to 24.7% at end-2011 and 23.3% as at end-2010.
Commenting on the results of the Bank - Sheikh Abdullah Al Sabah - the Vice Chairman of said that, "We are very pleased with the exceptional results of the Bank and its capacity to consistently deliver an all-round performance amidst these challenging macro-economic conditions attest to its viability, depth, diversity and an ability to deliver in a stable and sustainable manner and the success in the implementation of its new strategy. These results once again bear evidence of its inherent potential and reinforces our confidence of a promising future."
Commenting on the results of the Bank Akbar Habib Chief Executive Officer and Executive Director of the Bank said that, "BMB's capability to consistently deliver performance with rather modest resources, demonstrates the soundness of its multi-dimensional business model. If certain conditions fulfilled, the bank has the potential to scale new heights in the foreseeable future."
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