Flip through the latest issue of Gulf Weekly.
Bahrain-based Futurebank has announced a net profit of BD4.78 million for the half-year period ended June 30, 2009.
While this marks a 19.9 per cent decrease in profits over the same period last year (H1 2008 - BD5.97 million), second quarter 2009 profits have shown a marked increase of 17.7 per cent (BD2.96 million) as compared to Q2 2008 profits of BD2.52 million, showcasing solid growth and defying regional trends.
At the end of June 2009, total assets stood at BD553.75 million, an increase of 4.5 per cent, as compared to the comparable period of half year-ended June 2008. The net operating income stood at BD6.44 million after making provisions to the extent of BD0.61 million on non-performing portfolio, for the six months ended June 30, 2009.
Dr Valiollah Seif, Futurebank CEO and managing director, said: "Futurebank's steady growth, even under such challenging market conditions can be attributed to our diversified client base and comprehensive range of banking services. Over the past months, we have been investing heavily in internal training and human resource developmental activities as part of a mandate to constantly upgrade and re-educate our staff with current international standards."
