BNH announces its financial results for the year ended 31 December 2022
- Date: 23-Feb-2023
- Source: Bizbahrain
- Sector:Financial Markets
- Country:Bahrain
BNH announces its financial results for the year ended 31 December 2022
Bahrain National Holding Company (BNH) announced its
financial results for the fourth quarter and for the year ended 31st December 2022.
For the fourth quarter ended 31st December 2022, the Group achieved a net loss
attributable to the shareholders of BD 206 thousand compared to a net profit of BD1.21
million during the fourth quarter of the previous year. The loss per share for the fourth
quarter was 2.1 fils compared to earnings per share of 10.7 fils during the same period of
The total comprehensive loss attributable to the shareholders for the fourth quarter
ended 31st December 2022 was BD 561 thousand, compared to total comprehensive
income attributable to the shareholders of BD1.68 million during the same period of 2021.
The decrease in the net profit for the fourth quarter of 2022 compared to the same period
of last year was predominantly attributable to the impairment losses on investments of
BD1.2 million. The impairment is primarily the result of the fall in value of our investment
in Arabian Shield Cooperative Insurance Company, which is listed at the Tadawul, KSA.
The Group’s investment in Arabian Shield, was reclassified from “Associate” to “Available
for Sale” security in the first quarter of 2022.
For the year ended 31st December 2022, the Group achieved a net profit attributable