August 10, 2022

Khaleeji Business Financial institution BSC (commerce image: KHCB) introduced its monetary outcomes for the second quarter of 2022 AD, wherein the financial institution generated a internet revenue attributable to the corporate’s shareholders of three.362 million Bahraini dinars, in comparison with 3.901 million Bahraini dinars final 12 months . the identical interval final 12 months, that’s, a lower of 13.82%. Earnings per share for a similar interval was 0.45 fils, in comparison with 1.12 fils for a similar interval final 12 months. Whole income earlier than return to funding account holders for the second quarter of 2022 AD was BD 13.208 million in comparison with BD 15.611 million recorded in the identical interval final 12 months, down 15.39%.

When it comes to semi-annual monetary outcomes for the interval ending June 30, 2022 AD, the Financial institution generated a internet revenue attributable to shareholders of BHD 6.810 million in comparison with BHD 6.007 million for the primary half of final 12 months, i.e. elevated by 13.37% and earnings per share for the interval ended June 30, 2022 was 4.74 fils, in comparison with 3.74 fils within the second half of final 12 months, and the entire worth of whole income earlier than returning to funding account holders of the financial institution to The tip of the primary half of this 12 months was 26.911 million Bahraini dinars in comparison with 28.439 million dinars within the first half of final 12 months.

Whole share capital (after excluding minority curiosity) for the interval ended June 30, 2022 decreased by 1.71% to achieve BHD 143.797 million in comparison with BHD 146.298 million final 12 months. Whole property for the interval ended June 30, 2022 elevated by 6.00% to achieve BD 1,236.144 million in comparison with BD 1,166.184 million final 12 months, along with a 0.84% ​​improve in deposits to BD 919.237 million Bahraini dinars. in comparison with 911.547 million Bahraini dinars final 12 months. The monetary outcomes additionally confirmed a rise in sovereign sukuk by 1.83% to BD 300.453 million in comparison with BD 295.040 million final 12 months.

Commenting on the monetary outcomes, Mr. Sattam Suleiman Al Gosaibi, CEO of the financial institution, mentioned: “HCB is transferring at a gradual tempo, reaching constructive monetary outcomes on the total stage, regardless of all the issues that the world has been going through recently. occasions, which has led to many actions in any respect ranges as we’ve got labored over the previous six months to launch various initiatives which have enormously contributed to the soundness of our monetary efficiency and the expansion of the financial institution’s earnings, together with the introduction of various merchandise on the stage of financial savings accounts, deposits and financing for people and companies, in addition to the enlargement of superior digital banking providers in keeping with the newest applied sciences and monetary applied sciences.” Al Gosaibi added: “According to the calls for of the occasions and its ongoing dedication to offering its clients with a handy and revolutionary banking expertise by way of its department community, KHCB continues to work on its bold banking digitization undertaking. we hope to finish the superior section of this undertaking by the top of this 12 months, whereas the financial institution continues to develop its providers. The digital service it supplies by way of different channels, together with the Al Khaleeji Cell Telephone software, wherein providers that may be shortly and simply accessed by way of the appliance with out having to go to branches Revolutionary providers and merchandise that meet the expectations of our valued clients, each people and corporations, along with getting into into extra strategic partnerships to enhance the effectivity of the financial institution. funding portfolio.

Al Qusay concluded: “We are going to proceed to look to the longer term with optimism, counting on the standard we offer in services, with our dedication to dedicate each effort and energy to propel the financial institution in the direction of broader horizons of development and improvement. . I take this chance to specific my honest thanks and appreciation to our valued shareholders and purchasers for his or her belief, and I admire the efforts of our staff to strengthen the financial institution’s main place amongst Islamic banks within the Kingdom.”

Khaleeji Business Financial institution is among the Islamic banks that goals to satisfy the expectations of shoppers by way of the Islamic banking mannequin, which supplies a variety of high-quality banking providers for people and corporations, in addition to Islamic Sharia-compliant funding alternatives.

The total monetary outcomes and press launch can be found on the Bahrain Trade web site.

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