Outlook for Bahrain’s banking sector ‘cautiously positive’: NBB

March 13, 2014 2:18 am

Chairman of the National Bank of Bahrain (NBB), Farouk Almoayyed has said the outlook for the kingdom’s banking sector is ‘cautiously optimistic’ with the wheels of economic growth turning positive, Gulf Daily News has reported. The lender is well-positioned to capitalise on increased business opportunities against the backdrop of an anticipated recovery in the global and domestic economy, he said. NBB reported 8.1% year-on-year increase in net profit to $136.6m for 2013. The shareholders have approved cash dividend of 35%, or $87.58m.