Mubasher: Bahrain Middle East Bank (BMB) on Wednesday reported a profit surge of 585.51% during the fourth quarter of 2016, compared with the same period of the previous year.
Profits reached $473,000 in Q4-16, up from $69,000 in Q4-15, according to the bank’s statement to the Bahrain Bourse.
Meanwhile, full year profits inched down 0.12% to $5.073 million in 2016 from $5.079 million in 2015, the company added.
Profits in the first nine months of 2016 declined 8.188% year-on-year to $4.6 million from $5.01 million.
The bank’s board recommended not to distribute annual dividends to the shareholders for the fiscal year ended 31 December 2016.
