Flip through the latest issue of Gulf Weekly.
Al Salam Bank, Bahrain has reported a quarterly net profit of BD5.2 million representing a return on equity of 15.1 per cent.
This performance comes on the back of the strong operating results of BD16.4 million ($43.5 million) in net profits posted for the period ended December 31, 2006. The bank reported gross income of BD7.3 million ($19.2 million) for the period ended March 31, 2007.
Chairman Mohamed Ali Alabbar said this impressive performance is on account of continued perseverance of the board and executive management to source profitable deals for shareholders.
He added: “The bank has gone into 2007 with investments in China and Malaysia as well participating in the establishment of a real-estate development company in Bahrain.”
Managing director and board vice-chairman Hussain Al Meeza added: “We are pleased to march into 2007 with a strong quarterly performance. It shows continuation of the momentum we generated since our launch early last year.”
