Bahrain-based Futurebank has announced a net profit of BD8.2 million for 2009 (BD10.7 million in 2008). The bank's net profit for Q4 2009 stood at BD900,000.
Futurebank CEO and managing director Dr Valiollah Seif said: "The bank's profit based on performance for the fourth quarter 2009 is actually a laudable BD2.4 million.
"In line with our strategy to maintain a strong balance sheet and safeguard our customer's deposits, Futurebank decided to increase its collective impairment provision by BD1.5 million in Q4 2009. The result of this prudent decision can be seen on our bottom line."
