Mubasher: Bahrain Islamic Bank (BisB) relies on revenues and fees from financing and main activities which represent 97% of total income, according to the bank’s CEO, Hassan Jarrar.
Jarrar said that board of directors decided to set aside impairment provisions during 2015 at BHD9 million, compared with BHD11.9 million in 2014, according to a statement posted on the bourse website on Monday.
The bank’s Islamic financing increased by 16%, clients’ investment accounts rose by 8%, while deposits’ cost fell by 24% compared to 2014, noted the CEO.
The bank has a strong liquidity indicator at 13.7% and capital adequacy ratio at 17.73%.
BisB’s net profits during 2015 increased by 20.4%.to BHD11.2 million, compared to BHD9.3 million in 2014.
Total operating income declined in the fourth quarter of 2015 to BHD10.3 million ($27.33 million), compared to BHD13.7 million, ($36.35 million) for the same period a year earlier.
The total operating income during 2015 fell by 3% to BHD41.7 million, compared to BHD42.9 million.
