Al Salam Bank’s net profits down 42% in H1-20

Al Salam Bank’s net profits down 42% in H1-20

Mubasher: The net profits attributable to the shareholders of Al Salam Bank – Bahrain decreased to BHD 7.1 million ($ 18.8 million) in the first half (H1) of 2020, down 42% from BHD 12.31 million ($32.6 million) in the corresponding half of 2019.

The bank's net income increased to BHD 30.34 million in H1-20 from BHD 27.09 million in H1-19, according to the bank's consolidated interim financial results for the period ended on 30 June 2020.

The bank's total assets increased to BHD 2.193 billion as of 30 June 2020 from BHD 2.047 billion as of 31 December 2019.

The basic and diluted earnings per share (EPS) settled at 3.3 fils in the first six months of 2020, versus 5.7 fils in the same