Arcapita Reports Profits of $285.7m

MANAMA — Bahrain-headquartered Arcapita Bank, an international investment firm, yesterday announced record profits of $285.7 million for the 18-month period till June 30. This equates to an annualized net income of $190.5 million, an increase of 83 percent over the 2005 net income of $104.3 million. Arcapita’s balance sheet footing at the end of June 2007 was $3.8 billion, up 104 percent on 31 December 2005.