Islamic Finance

Bahrain’s Islamic bank Al Salam posts 29.75 pct rise in half-year profit

Shariah-compliant Al Salam Bank posted a 29.75 per cent rise in net profit for the first six months of 2019 compared to the same period last year.

The Bahrain-based bank's net profit reached 12.22 million Bahraini dinars ($32.5 million) for H1 2019 compared to 9.42 million dinars for H1 last year, it reported in a bourse filing on Thursday.

Total assets increased by 7.37 per cent to 1.8 billion dinars as at June 30 compared to December 31.

($1 = 0.376 Bahraini dinars) 2019 All Rights Reserved