Shamil Bank Profits Soar 58%

Author: 
Staff Writer
Publication Date: 
Mon, 2004-03-22 03:00

MANAMA, 22 March 2004 — Shamil Bank announced a net consolidated income of $22.3 million for the year ended Dec. 31, 2003, reflecting an increase of 58 percent over the $14.1 million made in 2002, according to a press note. Total operating income during the year increased by 37 percent to $57.3 million. This performance is a clear reflection of the bank’s ability to generate better results for its customers and shareholders from its core operation particularly in the area of Islamic and structure finance, funds management and investment activities.

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