Bahrain Islamic reports 128% surge in quarterly net income

May 13, 2014 9:48 am

Bahrain Islamic Bank (BisB) has posted a 128% surge in first-quarter net profit to BD2.5m ($6.63m), compared with BD1.1m for same period of 2013, Gulf Daily News has reported. This is after deduction of the required net provisions amounting to BD2.7m. Net operating profit before provisions rose to BD5.2m from BD5.1m, while total net provisions dropped to BD2.7m, compared with total net provisions of BD4m a year earlier.