Bahrain Middle East Bank has announced the results of its six month period ended June 30, 2012 – with total income reaching $ 6.1 million as compared to $ 6.0 million in the same period 2011 amidst a challenging macro-economic market environment.
The results marked the tenth consecutive quarter of consistent since 2009 net positive earnings for the Bank, demonstrating the consistency and stability in its performance following a rigorous restructuring effort undertaken in 2009 and the successful roll-out of its multi-dimensional business model, one that features viability, sustainability, scalability and diversity in sources of income.
Other highlights for the period included: Net income for the period amounted to $1.8m (H1-2011: $2.0m) Net income for the three month period ended June 2012 amounted to $ 0.15m (Q2-2011: $1.1m). Capital adequacy continued to remain strong having shown consistent improvement to 28.0% at end June 2012 as compared to 24.7% at end-2011 and 23.3% as at end-2010.
Commenting on the results of the Bank - Sheikh Abdullah Al Sabah - the Vice Chairman of said that: “We are very pleased with the exceptional results of the Bank and its capacity to consistently deliver an all-round performance”.