Mubasher: Bank of Bahrain and Kuwait (BBK) posted on Monday a net profit of BHD 31.3 million for the first half of the fiscal year 2016, 6.5% up from BHD 29.4 million reached in the same period of 2015.
In the second quarter of fiscal 2016, net profit came to BHD 16 million, compared to BHD 14.6 million in Q2-15; increasing by 10.2%.
The financial statements were approved by the bank’s board of directors during its meeting today, according to a bourse filing.
“The solid and steady growth in our performance is a testimony on the viability of our business model which supports the increase of our shareholders’ value, while at the same time maintaining our commitment to contribute positively to the communities and markets in which we operate,” the bank said commenting on H1 results.
Operating revenues grew by 11.5% to BHD 66.8 million by the end of June 2016, versus BHD 59.9 million in the same period a year ago. Net interest income increased by 23.4% to BHD 43.2 million from BHD 35.0 million.
Operating expenses increased in H1-16 by 6.8% year-on-year period.
