Khaleeji Commercial H1 profits surge 177%

July 30, 2015 9:52 AM

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Bahrain-Mubasher: Khaleeji Commercial Bank (KHCB) said its profits skyrocketed 177% to BHD 4.4 million ($21.5 million) in the first half of 2015, compared to BHD 1.6 million ($10.5 million) in the same half of 2014.

Earnings per share jumped to 4.26 fils in H1-15 from 1.09 in H1-14, according to a bourse filing.

Profits reached BHD 2.7 million in H1-15, while net revenues rose to BHD 10.5 million.

The way the shares were restructured reflected positively on the share price and trading volume, said KHCB chairman Ahmed Al Mutawa.

Al Mutawa added that the bank maintained a strong balance sheet, good liquidity and capital adequacy ratio throughout H1-15.

KHCB CEO Khalil Ismaeel Al Meer said that the bank managed to reduce funding cost and increase customer base.

Source: english.mubasher.info

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