Bank of Bahrain Announces Profit

MANAMA, 19 October 2005 — Bank of Bahrain and Kuwait said on Monday its net profit for the first nine months of 2005 rose 6.8 percent to 20.3 million dinars ($53.8 million). The bank said in a statement net profit for the third quarter rose 74 percent to 6.8 million dinars. “However, the previous year’s income included an extraordinary income of 2.9 million dinars from the sale of a strategic investment,” the statement added. Net interest income for the first nine months of 2005 increased 18.5 percent to 25.7 million over the same period a year earlier. Customer deposits rose to 922.6 million dinars from 808.4 million, and loans and advances increased to 788.1 million from 723.2 million.