Ithmaar Bank narrows net loss to $6.9mln in 9 months

Ithmaar Bank narrows net loss to $6.9mln in 9 months

Ithmaar Bank , a Bahrain-based Islamic retail bank, has posted a net loss of BD2.62 million ($6.9 million) attributable to equity holders for the first nine months of the year compared to the net loss of BD4.18 million ($11 million) reported for same period in 2020. Ithmaar Bank’s financial results show The Bank’s results show a net loss attributable to equity holders for the three-month period ended 30 September 2021 of BD3.16 million compared to a net loss of BD2.15 million for the same period in 2020. The loss is mainly due to the devaluation of the Pakistan Rupee during the period, a bank statement said. var width=document.documentElement.clientWidth;if(width>=320&&width<728){}; googletag.cmd.push(function(){try{var d=document.documentElement.clientWidth;var a;var c="/21857811890/en.zcom/";var b;if(d>=320&&d<728){a=[300,250];b=["mobile_mr_story"]}else{a=[300,250];b=["MR_Story"]}var h="MR_Story";var g=googletag.defineSlot("/21857811890/en.zcom/",a,"div-gpt-ad-MR_Story").setTargeting("type",b).addService(googletag.pubads());gptAdSlots.push(g);if(h!="MR_Story"){googletag.pubads().collapseEmptyDivs(true,true)}googletag.pubads().enableSingleRequest();googletag.enableServices();if((h=="PSB_Left")||(h=="mobile_psb_left")||(h=="PSB_Top")||(h=="mobile_psb_top")||(h=="PSB_Bottom")||(h=="mobile_psb_bottom")||(h=="PSB_Middle")||(h=="mobile_psb_middle")||(h=="leaderboard_home")||(h=="leaderboard_bottom_home")||(h=="mobile_leaderboard_home")||(h=="mobile_leaderboard_bottom_home")){setInterval(function(){googletag.pubads().refresh([g])},240000)}}catch(f){console.log("Error loading Ad banner "+h)}}); try{googletag.cmd.push(function(){googletag.display("div-gpt-ad-MR_Story")})}catch(e){console.log("Error displaying Ad banner "+bannerName)}; Overall, including profit attributable to minority interests, the Bank’s results show a net profit for the nine-month period ended 30 September 2021 of BD1.34 million, a 288.5 percent increase compared to the net loss of BD0.71 million reported for the same period in 2020. The net loss for the three-month period ended 30 September 2021 was BD2.07 million, compared to a net loss of BD0.92 million reported for the same period in 2020. “On behalf of