Mubasher: Bahrain Islamic Bank’s (BISB) financial results showed a surge in profits by 57.7% in the fourth quarter of 2016 compared to the same period in 2015.
The bank, which is listed on the Bahrain Bourse, posted BHD 4.1 million ($10.57 million) in profits during Q4-16, versus BHD 2.6 million ($6.70 million) in the year-ago period.
The Bahraini bank posted a total of BHD 8.4 million in profits during 2016, compared to BHD 11.2 million in 2015, down 25%.
Earnings per share (EPS) in 2016 reached BHD 8.41 versus BHD 13.37 in 2015, declining by 37.10%.
BISB’s profits in the first nine months of 2016 amounted to BHD 4.28 million, down 50% from BHD 8.6 million in the same period in 2015.
The Bank’s board recommended an annual cash dividend distribution to shareholders at 5%, which equals 5 baisas per share, and totalling BHD 5.05 million.
BISB’s shareholders approved a 2015 bonus distribution of 4%, or four shares for every 100 shares, with total of 38.83 million shares.
