Bahrain’s Al Salam Bank’s Q2 profits up 53% to $18.6mln

Bahrain’s Al Salam Bank’s Q2 profits up 53% to $18.6mln

Al Salam Bank has announced a net profit attributable to the shareholders of BD7 million ($18.6 million) for the second quarter of 2022, compared to BD4.6 million ($12.1 million) for the same period in 2021, a robust increase of 53%, primarily driven by an increase in core activities.

Correspondingly, earnings per share increased by 58% to 3 fils ($8 cents) compared to 1.9 fils for the same period in 2021. Total operating income for the quarter stood at BD29.2 million compared to BD25.9 million for the same quarter in 2021, reflecting a 13% increase quarter-on-quarter.

For the six months period ended June 30, 2022, the bank reported a net profit attributable to shareholders of BD13.5 million ($35.9 million), compared to BD10.7 million ($28.3 million) for the same period in 2021, reflecting an increase of 27%.

Earnings per share increased by 32% to 5.8 fils in H1 2022 compared to 4.4 fils for the same period in 2021. Total operating income for the half year ended June 30 2022 stood at BD55.2 million compared to BD54 million for the same period in 2021, reflecting a 2% increase.

Total shareholders’ equity decreased by 3% to BD288.3 million ($764.8 million) compared to BD296.3 million ($785.8 million) as