MANAMA, 3 November 2007 — Al Salam Bank, started in January last year, said third-quarter profit more than tripled, buoyed by expansion in retail banking. Net income rose to 3.3 million dinars ($8.7 million), or 28 fils a share, from 1 million dinars, or 8 fils, a year earlier, Chief Financial Officer Mukundan Raghavachari said. To boost its retail banking further, the Bahrain-based Islamic bank, which started in January last year, has launched online service, said the bank’s executive Vice-President and head of the banking group Nabeel Al-Tattan. “The new service will give the clients the opportunity to use unique banking services within their accounts including placing standing orders and recurring payments from Al Salam account to other beneficiaries with other banks,” said Al Tattan.