10 August 2010
Manama, Bahrain (10 Aug 2010) – Bahrain Middle East Bank today announced its nine month results for the period ending 30 September 2010. Key features of its performance included; 1. Net Profits of US$ 6.3 million (9M-2009: losses of US$ 24.8 million) 2. Fair value reserves stood at USD 6.5 million versus USD 5.2 million at end September 2009 3. Operating expenses reduced by 40% to US$ 4.6 million from US$ 7.7 million during the same period 2009 – reflecting results of the now streamlined organization and business processes 4. Capital adequacy was strong at 21% 5. Improved liquidity profile.
