Foras Acquires 36% Stake in Beban Crowdfunding
This collaboration between Beban and Foras is an important step on the path to the development of new features and resources, ultimately benefiting both entrepreneurs seeking funding and investors looking for promising opportunities.
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Biz Bahrain
10 hours ago
- Biz Bahrain
NBB REPORTS RECORD NET PROFIT ATTRIBUTABLE TO THE SHAREHOLDERS FOR THE SIX MONTHS ENDED 30 JUNE 2025
National Bank of Bahrain B.S.C. (NBB) has reported a 2% increase in its net profit attributable to shareholders reaching BHD 19.4 million (USD 51.5 million) for the second quarter ended 30 June 2025, compared to BHD 19.1 million (USD 50.7 million) in the same period of 2024. The increase is supported by the Group's diversified revenue streams including fee-based income which registered a 45% growth, gains from client-related activities and lower provisioning requirements. Earnings per share increased to 9 fils (USD 2 cents) for the second quarter of 2025 compared with 8 fils (2 cents) in the same period of 2024. Total comprehensive income attributable to NBB's shareholders for the quarter decreased by 28% to BHD 13.9 million (USD 36.9 million) compared to BHD 19.4 million (USD 51.5 million) in the same period 2024. The decrease is attributable to the negative mark-to-market movements of the equity and bond portfolios. Year-to-date NBB has reported a 2% increase in its net profit attributable to the shareholders for the six months ended 30 June 2025, recording BHD 47.5 million (USD 126.0 million) compared to BHD 46.6 million (USD 123.6 million) for the same period of 2024. The increase was driven by higher operating income supported by stable operating expenses. Earnings per share remained at 21 fils (USD 6 cents) compared with the same period in 2024. Total comprehensive income attributable to NBB's shareholders for the period decreased by 33% to BHD 34.3 million (USD 91.0 million) compared with 51.4 million (USD 136.3 million) in 2024. The decrease is attributable to the negative mark-to-market movements of the equity and bond portfolios. Balance sheet The Group's total equity attributable to shareholders decreased by 4% as of 30 June 2025 to BHD 560.4 million (USD 1,486.5 million) compared to BHD 583.8 million (USD 1,548.5 million) reported as of 31 December 2024. The change is mainly a reflection of the Group's proactive distribution of value to its shareholders following the approval and declaration of BHD 56.4 million in year-end cash dividends for 2024, while maintaining a robust capital position. The Group's total assets increased by 8% during the period to BHD 5,967.7 million (USD 15,829.4 million) compared to BHD 5,522.2 million (USD 14,647.7 million) recorded on 31 December 2024. Interim dividends Following the Group's strong performance, the Board of Directors proposed an interim cash dividend amounting to BHD 22.6 million which represents 10% of share nominal value, equivalent to 10 fils per share. The payment is subject to regulatory approval. Commentary On the occasion, Mrs. Hala Yateem, Chairperson of NBB said, 'NBB has maintained a strong financial performance in the first half of 2025, registering an attributable net profit of BHD 47.5 million, an increase of 2% compared to the same period last year, and a record result for the first six months of any year. This growth was underpinned by a robust balance sheet, with total assets up 8% from the year-end level. Following this sustained positive trajectory, the Board has approved an interim cash dividend of 10%, underscoring our ability to deliver consistent returns to shareholders. Our return on average equity of 16.9% further highlights the Group's financial resilience. Beyond the financial metrics, we remain focused on supporting the national developmental agenda through continued investments in community-focused and ESG-driven initiatives. Our progress so far reflects the strength of our current market position as we move into the second half of the year.' Usman Ahmed, Group Chief Executive Officer of NBB commented, 'Our operating profit for the first six months of 2025 reached BHD 53.6 million, representing a 4% increase over the same period last year. A growth of 8% in total assets and 5% in customer deposits indicates the strength of our balance sheet and the continued trust of our clients. These results additionally showcase how we continue to enhance our service quality and broaden our social contributions with work that has garnered industry acclaim. During the second quarter of the year, NBB received the Euromoney Awards for Excellence for 'Best Bank in Bahrain', 'Best Bank for ESG', and 'Best Bank for Corporate Responsibility' for our standout financial performance, digital transformation initiatives and customer-centricity. We were also named the 'Best Retail Bank – Bahrain' and 'Best Payment Ecosystem Integration for Corporates' at MEED's MENA Banking Excellence Awards. Our team remains committed to consistently delivering exceptional customer experiences and sustainable growth across the Group.'
Daily Tribune
6 days ago
- Daily Tribune
Al Baraka Islamic Bank Announces Expansion of Cash Prizes for 'Al Barakat' Account to a Total of USD 6 Million in 2025
Al Baraka Islamic Bank, one of the leading Islamic banks in the Kingdom of Bahrain, has announced an increase in the valuable cash prizes under Al Barakat Account prize scheme through year-end under the theme 'The Door of Al Barakat is now bigger', bringing total cash prizes to USD 6 million during 2025. This reflects the Bank's commitment to offering customers greater chances to win and achieve their aspirations. The first draw will take place on September 30, 2025, with 13 cash prizes totalling USD 350,000, including three grand prizes of USD 100,000 each. The second draw will follow in November 2025, offering 16 cash prizes totalling USD 250,000, including two prizes of USD 100,000 each. Al Barakat will conclude 2025 with a massive draw in early 2026, offering its customers unprecedented prizes totaling USD one million, which will be awarded to 11 winners, including 750,000 US dollars to be distributed among three winners. Commenting on the occasion, Mr. Mazin Dhaif, Chief Retail Officer at Al Baraka Islamic Bank, said: 'At Al Baraka Islamic Bank, we remain committed to providing rewarding, Shari'ah-compliant banking solutions, and the expansion of the Al Barakat Account prize programme is a key step in this direction. By diversifying and increasing prize tiers and holding multiple draws, we enhance our customers' chances of winning and encourage them to save and invest with confidence.' He added: 'We are pleased to invite all our valued customers to participate and grow their savings with Al Barakat. We wish everyone the best of luck in benefiting from the valuable winning opportunities as 'The Door of Al Barakat Just Widened', while we continue to enhance our services to deliver outstanding banking experiences that meet diverse needs and support our customers' financial ambitions.' The Al Barakat Investment Account from Al Baraka Islamic Bank, which is Shari'ah-compliant, offers multiple opportunities to win amazing cash prizes throughout the investment period, with a minimum deposit of BD 50 or the equivalent of USD 135. Individuals of all nationalities aged 18 and above can open an Al Barakat Investment Account via Al Baraka Islamic Bank's mobile app without the need to visit a branch. Accounts for those under 18 can be opened by their parents or legal guardians. Al Baraka Islamic Bank is a leading Islamic bank in the Kingdom of Bahrain. Since its establishment in 1984, it has delivered outstanding results in operations and services for both individual and corporate clients. The bank has a proven track record of developing and providing innovative Shari'a-compliant investment solutions to a diverse global client base.
Syyaha
04-08-2025
- Syyaha
Middle East hospitality sales, marketing, revenue management and distribution experts set to convene in Dubai for 8th Commercial Strategy Conference
Dubai, UAE, 4 August 2025: The 8th Annual Commercial Strategy Conference MEA (CSC), organized by Hospitality Sales and Marketing Association International (HSMAI) Middle East and Africa (MEA), will take place on 25 and 26 November 2025 at the Conrad Dubai Hotel. The event will gather the region's leading hospitality experts in sales, marketing, revenue management and distribution for two inspirational days of presentations, panel debates, networking opportunities and awards. Since 2018, CSC has been the only conference of its kind in the region and the go-to event for hospitality peers to discuss the industry's most pressing issues and hottest topics. This year, HSMAI MEA and its Advisory Board of experienced industry veterans are taking it up a notch with a jam-packed programme aimed to educate, inspire and create connections among hoteliers and thought leaders. The 2025 Conference will focus on expert-led sessions by top industry leaders on revenue optimization, sales strategies, marketing trends, as well as the latest tools and technologies shaping the future of hospitality. A standout segment of the conference is the much-anticipated annual ROCKSTAR awards, designed to celebrate exceptional on-property professionals for their bold initiatives and outstanding contributions to the Middle East hospitality industry that push the boundaries of commercial success. The ROCKSTAR awards will feature nine finalists selected by the HSMAI MEA Advisory Board, who will be invited to present their strategies live during the conference where the audience will vote for the top three. Prizes for the winners include an HSMAI certification course, event attendance and annual membership, a 50 percent scholarship on the Executive Master's programs at Glion and Les Roches along with a complimentary executive course or select e-Academy certificate, as well as two free tickets anywhere in the world in partnership with Wego. Submissions can be made online here until 15 August. This year, HSMAI MEA is offering specially reduced delegate passes, priced at just USD 75, for university and college students and faculty. In addition, hoteliers from the GCC residing outside of the UAE receive 50 percent discount on delegate passes. Mona Faraj, President, HSMAI MEA, said: 'This year's Conference is shaping up to be our most ambitious and dynamic event yet – with record-breaking attendance, a broader spectrum of topics, and unparalleled opportunities for meaningful connections. Since the launch of the Revenue Optimization Conference (ROC) in the U.S. two decades ago, we've continually expanded and adapted, staying ahead of the curve to equip hotel leaders with the tools, insights, and strategies needed to address key challenges and capture new possibilities. As we approach our 8th regional CSC, anticipation is high for a rich exchange of ideas, impactful networking, and game-changing discoveries at what has become the premier industry gathering in the Middle East and Africa.' The event will be preceded by four in-person review courses: Certified Hospitality Digital Marketer (CHDM), Certified revenue Management Executive (CRME), Certified Hotel Sales Leader (CHSL)and Certified in Hospitality Business Acumen (CHBA), taking place on 23 and 24 November, a unique opportunity for hospitality professionals to fast track their HSMAI certification process. Registrations are now open, with special early bird discounts available until 31 July, click here to register and avail the early bird offers. Visit Partner with us for sponsorship opportunities and click here for full details of the conference.
