Bahrain’s Khaleeji Commercial Bank climbs out of the red to post 7.99 mln dinars profit for 2020

Bahrain’s Khaleeji Commercial Bank posted 7.99 million dinars ($21.25 million) in net profit last year after registering a loss of 14.94 million dinars in 2019, a rise of 152.6%.

The Shariah-compliant bank reported in a bourse filing on Thursday (Feb 11) net impairment charges of 4.34 million dinars, a substantial improvement from 20.4 million dinars in 2019.

Expenses dropped 26.8% to 10.4 million dinars compared to 14.19 million dinars in 2019.

On the balance sheet, assets crossed the 1 billion dinars mark, nudging up by 8% to 1.02 billion dinars.

KEY STATS KHALEEJI COMMERCIAL BANK FY2020 vs. FY2019:

• Profit attributable to shareholders: 7.99 mln dinars vs. -14.94 mln dinars
• Total income: 22.6 mln dinars vs. 19.6 mln dinars
• Assets 1.02 bln dinars vs. 939.75 mln dinars
• Liquidity coverage ratio: 198.28%

© SalaamGateway.com 2021 All Rights Reserved