Impairment charges hit Bahrain Islamic Bank 2019 profit
Bahrain Islamic Bank’s full-year 2019 profit tumbled 45.4% as it picked up higher impairment charges.
Bahrain’s oldest Islamic bank earned a profit of 6.21 million dinars ($16.53 million) last year compared to 11.38 million dinars in 2018, it reported in a filing with the Bahrain Bourse on Wednesday (Feb 12).
The bank coughed up 10.998 million dinars in impairment allowances compared to 8.895 million dinars in 2018, an increase of 23.64%.
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