Takaful International announces its financial results for the first quarter 202

Takaful International announces its financial results for the first quarter 202

The Board of Directors of Takaful International Company (Trading Code: TAKAFUL) approved the financial results for the period ended 30 June 2020. The net profit attributable to the shareholders of the parent for the six months ended 30 June 2020 was BD 360K compared to BD 357K for the same period last year, an increase of 1%, and a corresponding earnings per share at 4.23 Fils compared with 4.2 Fils for the same period last year. Total comprehensive income attributable to the shareholders of the parent for the period ended 30 June 2020 stood at BD 256K compared to BD 406k for the same period last year, a decrease of 37%.



The Company reported an overall net profit of BD 553K for the six months period ended 30 June 2020 compared to BD 604K of the same period last year with a decrease percentage of 8% attributed to the decrease in the net investment income and reserving an additional provision for receivable balances as well as reserving additional provisions for General and Family Takaful Technical Funds



Overall gross contributions increased by 18% to BD 13.8m as at 30 June 2020 compared to BD 11.7m for the same period last year.