BMB posts healthy net profit of USD 4.1 million and surges ahead with optimism

10 August 2010

Manama, Bahrain (10 Aug 2010) – Bahrain Middle East Bank today announced its semi-annual results for the period ending 30 June 2010. Salient features of its performance included; – Net Profits of US$ 4.1 million (H1-2009: losses of US$ 19.7 million) – Fair value reserves stood at USD 6.0 million versus USD 1.3 million at end June 2009 – Operating expenses reduced by 45% to US$ 3.0 million from US$ 5.5 million during the same period in 2009 – reflecting positive results of the successful restructuring and re-organizing efforts undertaken – Capital adequacy continues to remain sound at 17%.