Bahrain’s International Investment reports drop in full-year net income

May 31, 2014 12:48 am

Bahrain’s International Investment Bank (IIB) has posted a year-on-year drop in full-2013 net profit to $6m, compared with $8.2m recorded in the previous year, Gulf Daily News has reported. IIB’s operating profit for 2013 was $4.7m, down from $7.8m a year ago, largely due to non-recurring gains in 2012. Capital Adequacy Ratio continues to be strong in 2013 at 48.6%, which is four times the minimum 12% required by the Central Bank of Bahrain, said IIB.