BNH announces 29% increase in net profit

BNH announces 29% increase in net profit

MANAMA: Bahrain National Holding Company (BNH) has reported a net profit attributable to the shareholders of BD1.21 million for the fourth quarter ended December 31, 2021 compared to BD1.05m during the fourth quarter of the previous year, an increase of 15 per cent.

The earnings per share for the fourth quarter (Q4-2021) increased to 10.7 fils compared to earnings per share of 9.3 fils during the same period of 2020.

The total comprehensive income attributable to the shareholders for Q4-2021 decreased by 30pc to BD1.68m, compared to total comprehensive income attributable to the shareholders of BD2.39m during the same period of 2020.

For the year ended December 31, 2021, the group achieved a net profit attributable to the shareholders of BD6.39m, compared to BD4.94m during 2020, an increase of 29pc.

Earnings per share increased to 56.7 fils compared to 43.8 fils for the year 2020.

The total comprehensive income attributable to the shareholders for 2021 increased to BD7.51m, compared to BD5.92m during 2020, an increase of 27pc.

The increase in the net profit for 2021 compared to the previous year was predominantly attributable to the improvement of underwriting results supported by substantial investment income and a higher share of profits of equity accounted investees.

The total shareholders’