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BMI registers losses for first half of 2014

: Tuesday, August 12 - 2014 @ 00:26

BMI Bank, a subsidiary of Al Salam Bank Bahrain, announced its financial results for the first half ended June 30, showing loss after provisions of BD3.1m ($8.1m) against a net profit of BD540,000 for the same period last year, Trade Arabia reported. This was due to the provision of a one-off merger-related operating expense taken during the first quarter of the year reported the Gulf Daily News, our sister publication. Total assets and total loans and advances at the end of the period stood at BD0.76bn and BD0.37bn, respectively, as against BD0.73bn and BD0.37bn at the end of last year. Total operating income for the half year saw an increase of more than six per cent at BD11.46m when compared with BD10.78m reported during the corresponding period last year.

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Tuesday, August 12- 2014 @ 0:26 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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