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Bahrain Islamic returns to profit

Bahrain Islamic Bank (BisB) has posted a net profit of BD3.8m ($10.1m) during the first nine months of the year, compared with a net loss of BD20.8m during the same period last year, Gulf Daily News has reported. Net income for the third quarter reached BD1.4m, compared with a net loss of BD4.9m during the same quarter last year, the bank said. The National Bank of Bahrain and Social Insurance Organisation Asset Management Co recently acquired controlling stake of 51.6% in BisB from The Investment Dar of Kuwait.