Mubasher: Ithmaar Bank announced on Thursday a 31.7% year-on-year increase in net profits in the second quarter of 2016, to $7.14 million compared to $5.42 million reported in the same period last year.
The bank also reported an 8.3% net profit's decrease to $11.96 million for the first half of 2016, compared to the $13.04 million net profit reported in H1-15, according to the bank's statement.
“The financial results of the first half of 2016 indicate that the Bank’s operating income remains stable, at $132.66 million, and that total expenses, at $95.99 million, remain unchanged despite continued expansion of the Bank’s retail network,” said the bank’s Chairman Prince Amr Al Faisal.
