NBK – Bahrain Reports a net profit of BHD 54.84mln (KD 44.68mln) in 1H 2022

NBK – Bahrain Reports a net profit of BHD 54.84mln (KD 44.68mln) in 1H 2022

National Bank of Kuwait-Bahrain (NBK Bahrain) reported net profits of BHD 54.84 million (KD 44.68 million) for 1H 2022, compared to BHD 60.24 million (KD 48.18 million) for the same period in 2021. As of end of June 2022, NBK-Bahrain’s total assets stood at BHD 7.05 billion compared with BHD 7.13 billion for the same period in 2021. Total shareholders’ equity increased by 10% y-o-y to BHD 1,004.68 million, whereas Customer deposits increased by 68% y-o-y to BHD 3.080 billion compared with BHD 1.829 billion for the same period of previous year. Commenting on the Bank’s 1H 2022 results, Mr. Isam Al-Sager, NBK Group Vice-Chairman and Chief Executive Officer said, “National Bank of Kuwait – Bahrain realized good profits the 1st half of 2022, despite the continuing challenges prevailing in the operating environment due to the global economic concerns resulting from geopolitical tensions combined with the soaring inflation.” Al-Sager highlighted that the Group’s strategic investments over the recent past years in the key growth areas, along with the performance of international operations played a key role in supporting the Group’s profitability and mitigating risk. “NBK Group enjoys the unique advantage of broad geographical footprint, and the ability to provide both