Ithmaar Bank consolidated net profit surges by 91 per cent
Bahrain-based Ithmaar Bank has announced a 91 per cent surge in its consolidated net profit for the quarter ended 31 March, to a record $59.3 million. This result, up from $31 million earned in the same period last year, comes as the bank and its subsidiaries and associates in the Middle East, Asia Pacific, Europe and North Africa continue their expansion into new markets. The operating profit, meanwhile, nearly doubled, from $32.5 million to $62.9 million. Earnings per share increased to $1.51 cents per share, compared to the $1.07 cents per share in the corresponding period last year.