NBB reports a net profit of BHD 43.1 million for the nine months of 2020

NBB reports a net profit of BHD 43.1 million for the nine months of 2020

National Bank of Bahrain B.S.C. (NBB) has reported a 12.5% decrease in its net profit attributable to equity shareholders to BHD 14.0 million (USD 37.1 million) for the third quarter ended 30 September 2020, compared to BHD 16.0 million (USD 42.4 million) in the same period of 2019. The decrease in net profit was predominantly attributable to the worldwide COVID-19 pandemic resulting in higher precautionary provisioning requirement. Basic and diluted earnings per share for the third quarter decreased by 11.1% to 8 fils (USD 2 cent) compared with 9 fils (USD 2 cents) in the same period of 2019. Operating income increased by 20.8% in the third quarter to BHD 33.7 million (USD 89.4 million) compared with BHD 27.9 million (USD 74.0 million) in the prior year period.