Flip through the latest issue of Gulf Weekly.
Al Salam Bank-Bahrain announced a net profit of BD22.7 million ($60.1 million) for the nine month period ended September 30, 2008 registering an increase of 30 per cent compared to BD17.4 million for the corresponding period in 2007.
The earnings per share for the period were 18.9 fils against 14.5 fils for the corresponding period in 2007. The results represent a quarterly net profit of BD7.4 million for the quarter ended September 30, 2008 compared to BD3.3 million, an increase of 120 per cent, in the corresponding quarter in 2007. The total assets grew by 50 per cent to reach BD595.6 million from BD398 million.
Chairman Mohammed Alabbar, above, stated that considering the market conditions over the recent past, the Bank has been pursuing an extremely cautious approach to building assets and has booked only regional exposures barring three private equity transactions executed in South East Asia.
