BisB registers 105pc rise in net income

30/07/2015 09:52 AST

Manama: BisB has posted an increase of 105 per cent in net income for the first six months of the year at BD8.2 million ($21.75m), compared with BD4m for the same period last year.

Net income for the three months ended June 30 was BD5.1m as against BD1.5m for the same period last year, it said.

Gross income was BD11.2m as against BD7.8m for the same period last year. Total expenses for the three months remained the same at BD5.3m.

Net provisions for the three months amounted to BD786,000 as against BD1m for the same period last year, it added.

Chairman Abdul Razak Al Qassim said the bank registered BD21m as gross income as against BD18m for same period last year while reducing total expenses to BD10.2m, 5pc lower than BD10.7m total expenses for the same period last year.

The board has approved the financials and decided to set aside net provisions amounting to BD2.6m during the period, compared with BD3.8m for the same period last year.


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