Halal Business

Ithmaar Holding net profit up 20.4 per cent in H1 2019

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Despite challenging market conditions, the bank increased its liquid assets by 21.6 per cent to BHD 368.7 million in H1 2019, compared to BHD 303.19 million the same period in 2018.

Thursday 08, August 2019 BY KUDAKWASHE MUZORIWA

Ithmaar Holding has reported a net profit of $13.03 million for the six-month period ended 30 June 2019, a 20.4 per cent increase compared to $10.82 million reported in H1 2018.

The net profit attributable to equity holders for the six-month period ended 30 June 2019 was $8.37 million, a 73 per cent increase compared to the net profit of $4.85 million reported for the same period in 2018.

HH Prince Amr Al Faisal, the Chairman of Ithmaar Holding, said, “This improved liquidity reflects the bank’s prudent financial policies and its ability to adapt to market conditions.”

Additionally, total income for the H1 2019 was $246.7 million, a 7.5 per cent increase compared to $229.34 million reported for the same period in 2018.

Ithmaar Bank’s operating income H1 was $143.98 million, a 3.2 per cent decrease compared to $148.68 million during the same period in 2018.

The bank posted a 0.29 cents increase in earnings per share (EPS) for the six-month period compared to $0.17 for the same period in 2018.

Similarly, the total income for Q1 2019 was $120.7 million, a 4.8 per cent increase compared to the $115.19 million reported for the same period in 2018 and the bank’s operating income for Q1 2019 was $67.90 million, an 11.3 per cent decrease compared to $76.53 million reported for the same period in 2018.

TAGS : Ithmaar Holding, Ithmaar Bank, net profit

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