The Bahraini business
It has revealed that its consolidated net profit for the first half of this year has grown by 22% to
During the Q2 of 2014, net profit grew 18% to
There was a 2% decline in operating expenses during the reviewed period to
During Q2, 2014, cost to income ratio grew to 46.7% from 54.8% earlier, chiefly due to improved revenue.
The net impairment provisions during the reviewed period stood higher at
The net charge, on the other hand, for the first half reached
The overall assets of
There was a drop in the ratio of non-performing loans to gross loans to 2.5% from 3% as of end of 2013. The Group has been successful to retain a diversified and mostly short-term asset book, including below 1 year term for 56% of the assets.
During H1, 2014, deposits rose 8% to
The liquid assets to deposits ratio stood at 59% as against 63% as of end of 2013.
The ratio of liquid assets dropped to 42% from 44% at the end of 2013.
As of end of June, shareholders' equity reached
The firm reported a 20.7% capital adequacy ratio, mostly Tier 1, which reached 17.3%. The Group s total capital adequacy ratio adjusted to Basel III model as per the
The Chairman of
He said, 'During the first half of the year, we have also strengthened our management team with the addition of a new group chief banking officer, group chief financial officer and group head of compliance, all with significant international banking experience.
'I am confident that with our reinforced top management team in place, and with substantial capital resources and comfortable liquidity,
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