Prime Highlights
- NBB’s Q2 profit rose 16% to a record BD22.5 million.
- Customer deposits increased 12%, while loans and advances grew 6%.
Key Facts
- NBB is a leading financial institution based in Bahrain with regional banking operations.
- The board proposed a 10-fils-per-share interim cash dividend.
Background
National Bank of Bahrain (NBB) reported a 16% increase in second-quarter net profit attributable to shareholders, reaching a record BD22.5 million ($59.7 million), supported by higher net interest income and stronger core banking activity.
The Bahraini bank said earnings per share rose to 10 fils from 9 fils a year earlier. Total comprehensive income attributable to shareholders jumped 168% to BD37.3 million, mainly due to gains in the market value of its bond portfolio as financial markets stabilised.
NBB’s operating profit increased 31% during the quarter, reflecting stronger performance across its regional businesses. The bank also reported growth in its balance sheet, with total assets rising 2% from the end of last year to BD6.37 billion.
Loans and advances increased 6%, while customer deposits grew 12%. The growth supported the bank’s core operations and client-focused strategy.
For the first half, NBB’s net profit fell 9% to BD43.1 million from BD47.5 million a year earlier. The decline mainly reflected a BD7.7 million one-time gain from the sale of an investment property by its subsidiary, Bahrain Islamic Bank, in the previous year.
Excluding one-off items, attributable profit increased 10% to BD43.1 million from normalised profit of BD39 million.
The NBB board proposed an interim cash dividend of 10 fils per share, totalling BD22.6 million, subject to regulatory approval.
Chairperson Hala Ali Husain Yateem said the results showed the bank’s resilience, strong risk management and diversified business model. Group CEO Usman Ahmed said the performance reflected sustained regional growth and continued investment in customers and employees.
