KHCB announces profit: Bahrain

KHCB announces profit: Bahrain

Khaleeji Commercial Bank (KHCB) has announced a total net profit attributable to the bank’s shareholders of BD3.12 million during Q4 2022, compared to BD2.01m in the same period in 2021, an increase of 55.22 per cent.

The increase in net profit is mainly attributable to an increase in the total income before return to investment account holders, reaching BD18.57m in the last quarter of 2022, compared to BD11.34m in the same period of 2021, with an increase of 63.82pc.

Income from financing and ijarah assets amounted to BD9.925m during the fourth quarter of 2022, compared to BD7.725m for the same period of 2021, with an increase of 28.48pc.

Earnings per share were 3.902 fils for Q4 2022, compared to (-)1.222 fils for the same period of 2021.

For the full year 2022, the bank achieved a net profit attributable to the shareholders of BD14.01m, compared to BD10.85m for the same period of the previous year, an increase of 29.06pc.

The increase in net profit is mainly attributed to the increase in the total income before return to investment account holders, reaching BD62.20m, compared to BD52.49m in 2021 an increase of 18.51pc.

The bank reported an increase in income from financing and ijarah assets reaching BD35.725m during