KHCB reports a net profit of BD 10.85 Million attributable to the bank’s shareholders for the fiscal year ended 31st December 2021

KHCB reports a net profit of BD 10.85 Million attributable to the bank’s shareholders for the fiscal year ended 31st December 2021

Khaleeji Commercial Bank (KHCB) has announced a total net profit attributable to the Bank’s shareholders of BD 2.01 million during Q4 2021, compared to BD 209 thousand in the same period in 2020, an increase of 862.7%. The increase in net profit is mainly attributable to a decrease of 106.3% in total provisions. Due to the Additional Tier 1 payments during Q4 2021, Earnings per share reached -1.222 Fils for Q4 2021, compared to -3.265 Fils for the same period of 2020. The financial results also a net profit of BD 10.85 million attributable to the Bank’s shareholders for the fiscal year ended 31 December 2021, compared to a net profit of BD 7.99 million for the same period of the previous year, an increase of 35.90%. The increase in net profit is mainly attributed to the Bank’s reporting of an increase in total income to reach BD 26.9 million, compared to BD 22.6 million in 2020, an increase of 18.75 %. Earnings per share reached 6.039 Fils in 2021, compared to 6.409 Fils for the same period in 2020. Profit before impairment allowances has increased by 27.37% to BD 15.6 million, compared to BD 12.2 million in 2020. Total