NBB : Net profit of BD 37.03 million YTD September 2012

The National Bank of Bahrain (NBB) has recorded a Net Profit of BD 37.03 million (US$ 98.48 million) for the nine months ending on 30 September 2012 compared to BD 35.95 million (US$ 95.61 million) for the corresponding period of the previous year, an increase of 3.0 %. This is after setting aside BD 7.29 million (US$ 19.39 million) towards general loan loss provision to strengthen the balance sheet and BD 2.55 million (US$ 6.78 million) towards impairment on equity investments. For the third quarter of 2012, the Bank recorded a Net Profit of BD 11.93 million (US$ 31.73 million) compared to BD 11.86 million (US$ 31.54 million) for the corresponding period of the previous year. The Net Interest Income for the nine months period in 2012 was BD 46.95 million (US$ 124.87 million) compared to BD 40.38 million (US$ 107.39 million) for the corresponding period of the previous year, a strong growth of 16.3% which is attributable to growth in earning assets and improved returns on asset deployment. Other income for the nine months period in 2012 was BD 20.54 million (US$ 54.63 million) compared to BD 19.39 (US$ 51.57 million) for the corresponding period of the previous year, an increase of 5.9%. Operating expenses at BD 20.62 million (US$ 54.84 million) for the nine months period of 2012 showed a modest increase of 3.2 % over the previous year.