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VCBank posts $21.1m in net income

Bahrain-based Islamic investment bank, Venture Capital Bank (VCBank) has posted a net profit of $21.1m from total revenue of $43.9m for the 18 months ended June 30, compared with a loss of $58.7m and total revenue of $6.7m for the calendar year 2011, Gulf Daily News has reported. Net profit and total revenue for the quarter ended June 30 rose to $1m and $4.3m, respectively, from a net loss of $4.5m and total revenue of $2.8m for the same quarter ended June 30, 2011.