Manama, Bahrain (14 May 2009) – BMB Investment Bank (“BMB” or the “Bank”) announced today its 2009 first quarter results with a loss of US $5.7 million as compared to a profit of US $4.4 million in the first quarter of 2008. This came as a direct consequence of the global economic downturn that continued to severely impact market conditions in the first quarter of the year.
That said, it is noteworthy that since the end of the quarter market conditions and performance have significantly improved and are expected to have a positive impact on the private equity industry as a whole and on the Bank’s own investment portfolio in particular.
The Bank is therefore optimistic that its investment portfolio will stabilize and improve its earning power in line with the recovery in market conditions.
