Bahrain: Listed banks’ total net profit rises 10% in 2022

Bahrain: Listed banks’ total net profit rises 10% in 2022

Bahrain - Listed banks in Bahrain saw their total net profit increase by 10 per cent and total assets grow by 1.6pc in 2022, as per a new report by KPMG. This was driven by an increase in the return on assets and an overall increase in the net interest margin. The average return on equity for Bahrain banks was 10.8pc in 2022, highlights the audit and advisory firm’s analysis of GCC listed banks’ results, titled ‘Cautious optimism.’ The report studies the financial results and key performance indicators (KPIs) of leading listed commercial banks in the region, in comparison with the previous year, to highlight the main financial trends in the GCC countries. Mahesh Balasubramanian, partner and head of financial services at KPMG in Bahrain, said that the banking sector in the GCC region had endured a challenging period in 2021, but is now witnessing a strong recovery. He also noted that there is a shift in mindset amongst leaders within the sector, as they focus on building capital and strengthening their growth capital. “Bahrain banks continued to build capital to strengthen their growth capital with an average capital adequacy ratio of 20.3pc, the highest amongst GCC countries,” Mr Balasubramanian