Sunday 29, April 2012 by Robin Amlôt

Bahrain Islamic Bank reports slump in Q1 profits on provisions

Bahrain Islamic Bank reported net profit of BHD 543,000 ($1.4 million) for Q1 2012, compared with BHD 1.5 million a year ago. Operating profit dropped from BHD 2.5 million to BHD 2 million. The bank says it took provisions of BHD 1.5 million as a precaution against any ‘unforeseeable  deterioration’ in asset values compared with BHD 1 million last time.

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