Bahrain Islamic Bank (BisB) continues to achieve excellent and remarkable financial results reflecting the continuation of the positive and remarkable change in the bank's management and policy. BisB said in a statement on Wednesday that the bank made BD26 million in net profits in the first half of this year, an increase of 144 percent compared with BD10.6 million made during the same period of 2007. Khalid Abdulla Albassam, BisB board chairman, said “this excellent performance is due to the remarkable growth in the entire Bank's business activities, and in particular the carefully selected finance and investment transactions, in addition to launching new products. This contributed to a significant increase in the total income from the Bank's business activities in addition to a huge increase in total assets and customers' accounts.” Albassam also stressed the bank keenness during the coming period on developing and improving the customer services and the continuation of launching new products. “The operating income rose to BD42 million, an increase of 90 percent compared with BD22 million during the same period of 2007. He attributed the increase to the continuous growth in Islamic finance transactions and realizing an attractive returns on the bank's various investment activities,” he noted. “The increase in total income contributed to an increase in return on investment accounts to BD7.5 million. Thus, the bank's management is still keen on distributing the best returns to its investors which attracted a bigger local market shares while market prices are continuously rising,” he added. He highlighted the solid status of the bank's assets that have not been affected by the financial shocks that the world experienced last year and early this year. __
