Ithmaar Bank announces half-year profits

Ithmaar Bank announces half-year profits

MANAMA: Ithmaar Bank B.S.C. (closed), a Bahrain-based Islamic bank, reported profits for the first half of the year as it announced its financial results for the six-month period ended 30 June 2022.

The announcement, by Ithmaar Bank Chairman His Royal Highness Prince Amr Al Faisal, follows the review and approval of the Board of Directors of the Bank’s consolidated financial results.

The results show a net profit attributable to equity holders of the Bank for the three-month period ended 30 June 2022 of BD1.30 million compared to the net profit of BD0.38 million reported for the same period in 2021, mainly due to increase in core income. Total profit for the three-month period ended 30 June 2022 was BD2.02 million, compared to a net profit of BD1.86 million for the same period in 2021, mainly due to increase in core income.

The results also show a net profit attributable to equity holders for the six-month period ended 30 June 2022 of BD1.49 million, compared to a net profit of BD0.53 million for the same period in 2021. Total profit for the six-month period ended 30 June 2022 was BD3.52 million, compared to a net profit of BD3.41 million for the