Latest news with #IthmaarBank
Zawya
04-08-2025
- Business
- Zawya
Bahrain: Ithmaar Bank reports profits for first half
Bahrain - Ithmaar Bank, a Bahrain-based Islamic retail bank, reported profits for the first half of the year as it announced its financial results for the six-month period ended June 30, 2025. The announcement, by Ithmaar Bank chairman Prince Amr Al Faisal, follows the review and approval of the board of directors of the bank's consolidated financial results. The results show a net profit attributable to equity holders of the bank for the three-month period ended June 30, 2025 of BD1.47 million compared to BD3.53m reported for the same period in 2024. Total profit for the three-month period was BD3.33m, compared to BD5.78m for the same period in 2024. The decrease is mainly due to reduced spreads in their overseas business resulting from the decreasing profit rate environment. The results also show a net profit attributable to equity holders for the six-month period ended June 30, 2025 of BD2.80m, compared to BD7.78m for the same period in 2024. Total profit for the six-month period was BD7.10m, compared to BD13.52m for the same period in 2024. 'On behalf of Ithmaar Bank board of directors, I am pleased to announce that despite the challenging global economic situation, the Bank continued to report profit for the half-year,' said Prince Amr. 'This is due to the bank's continuous efforts and focus to achieve further growth in its core Islamic banking business in Bahrain and Pakistan and further enhancing the value of its strategic investments,' he said. Ithmaar Bank's chief executive Maysan Al Maskati said: 'The financial results show that the bank's efforts to continuously grow its core business and enhance its corporate customers Islamic banking experience had paid off.' 'As a result of the bank's continued efforts, the liquidity position has also improved, as reflected by an increase in its Liquidity Coverage Ratio (LCR) to 112pc as of end-June 2025 from 104pc as of end-2024,' said Mr Al Maskati. 'Furthermore, the deposit mobilisation efforts have yielded positive results as the quasi-equity liabilities has crossed BD1 billion mark, reaching BD1.07bn as of end-June 2025 compared to BD0.96bn at of end-2024,' he said. Total owners' equity increased to BD53.34m as of end-June 2025, a 5.5pc increase from BD50.54m as of end-2024. Copyright 2022 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Zawya
03-08-2025
- Business
- Zawya
Ithmaar Bank announces half-year profits
MANAMA, BAHRAIN – Ithmaar Bank B.S.C. (closed), a Bahrain-based Islamic retail bank, reported profits for the first half of the year as it announced its financial results for the six-month period ended 30 June 2025. The announcement, by Ithmaar Bank Chairman His Royal Highness Prince Amr Al Faisal, follows the review and approval of the Board of Directors of the Bank's consolidated financial results. The results show a net profit attributable to equity holders of the Bank for the three-month period ended 30 June 2025 of BD1.47 million compared to the net profit of BD3.53 million reported for the same period in 2024. Total profit for the three-month period ended 30 June 2025 was BD3.33 million, compared to a net profit of BD5.78 million for the same period in 2024. The decrease is mainly due to reduced spreads in their overseas business resulting from the decreasing profit rate environment. The results also show a net profit attributable to equity holders for the six-month period ended 30 June 2025 of BD2.80 million, compared to a net profit of BD7.78 million for the same period in 2024. Total profit for the six-month period ended 30 June 2025 was BD7.10 million, compared to a net profit of BD13.52 million for the same period in 2024. 'On behalf of Ithmaar Bank Board of Directors, I am pleased to announce that despite the challenging global economic situation, the Bank continued to report profit for the half-year,' said HRH Prince Amr. 'This is due to the Bank's continuous efforts and focus to achieve further growth in its core Islamic banking business in Bahrain and Pakistan and further enhancing the value of its strategic investments,' he said. Ithmaar Bank's Chief Executive Officer, Maysan Al Maskati stated that 'the financial results show that the Bank's efforts to continuously grow its core business and enhance its corporate customers Islamic banking experience had paid off'. 'As a result of the Bank's continued efforts, the liquidity position has also improved, as reflected by an increase in its Liquidity Coverage Ratio (LCR) to 112 percent at 30 June 2025 from 104 percent at 31 December 2024,' said Al Maskati. 'Furthermore, the deposit mobilisation efforts have yielded positive results as the quasi-equity liabilities has crossed BD1 billion mark, reaching BD1.07 billion at 30 June 2025 compared to BD0.96 billion at 31 December 2024,' he said. Total owners' equity increased to BD53.34 million as at 30 June 2025, a 5.5 percent increase from BD50.54 million as at 31 December 2024. About Ithmaar Bank: Ithmaar Bank B.S.C. (closed) ('Ithmaar Bank') is a Bahrain-based Islamic bank that is licensed and regulated by the Central Bank of Bahrain. Ithmaar Bank is a wholly-owned subsidiary of Ithmaar Holding B.S.C. which is listed on the Bahrain Bourse and Dubai Financial Market. Ithmaar Bank provides a diverse range of Sharia-compliant products and services that cater to the financing and investment needs institutions. Ithmaar Bank also maintains a presence in overseas markets through its subsidiary, Faysal Bank Limited (Pakistan).
Daily Tribune
15-05-2025
- Business
- Daily Tribune
Ithmaar Bank reports first quarter profits
Ithmaar Bank, a Bahrain-based Islamic retail bank, reported profits for the first quarter of the year as it announced its financial results for the three-month period ended 31 March 2025. The announcement, by Ithmaar Bank Chairman HRH Prince Amr Al Faisal, follows the review and approval of the Board of Directors of the Bank's consolidated financial results. Ithmaar Bank's financial results show a net profit attributable to equity holders for the three-month period ended 31 March 2025 of BD1.34 million compared to the net profit of BD4.25 m reported for the same period in 2024. Total net profit for the three-month period ended 31 March 2025 was BD3.77 m compared to BD7.74 m net profit reported for the same period in 2024. The decrease is mainly due to reduced spreads resulting from the decreasing profit rate environment.'On behalf of the Ithmaar Bank Board of Directors, I am pleased to report that the Bank continues to report profits despite the challenging market environment as the Bank is growing further by focusing on providing its products and services exclusively to meet the financial and investment needs of small and medium enterprises (SMEs) as well as corporates and institutions,' said HRH Prince Amr. 'This is also due to the Bank continuous efforts and focus to achieve further growth in its core Islamic banking business in Bahrain and Pakistan and further enhancing the value of its strategic investments,' he said. Ithmaar Bank Chief Executive Officer, Maysan Al Maskati said the financial results show that the Bank's efforts to continuously grow its core business and enhance its corporate customers Islamic banking experience had paid off. 'As a testimony to the Bank's growth journey, total equity attributable to shareholders of the Bank increased to BD51.87 million as at 31 March 2025, a 2.6 percent increase from BD50.54 million as at 31 December 2024, which demonstrates that the Bank is on the right trajectory,' he said.
Zawya
15-05-2025
- Business
- Zawya
Bahrain: Ithmaar Bank reports first quarter profits
Bahrain - Ithmaar Bank, a Bahrain-based Islamic retail bank, reported profits for the first quarter of the year as it announced its financial results for the three-month period ended March 31, 2025. The announcement, by Ithmaar Bank chairman Prince Amr Al Faisal, follows the review and approval of the board of directors of the bank's consolidated financial results. Ithmaar Bank's financial results show a net profit attributable to equity holders for the three-month period ended March 31, 2025 of BD1.34 million compared to the net profit of BD4.25m reported for the same period in 2024. Total net profit for the three-month period ended March 31, 2025 was BD3.77m compared to BD7.74m net profit reported for the same period in 2024. The decrease is mainly due to reduced spreads resulting from the decreasing profit rate environment. 'On behalf of the Ithmaar Bank board of directors, I am pleased to report that the bank continues to report profits despite the challenging market environment as the bank is growing further by focusing on providing its products and services exclusively to meet the financial and investment needs of small and medium enterprises (SMEs) as well as corporates and institutions,' said Prince Amr. 'This is also due to the bank's continuous efforts and focus to achieve further growth in its core Islamic banking business in Bahrain and Pakistan and further enhancing the value of its strategic investments,' he said. Ithmaar Bank chief executive Maysan Al Maskati said the financial results show that the bank's efforts to continuously grow its core business and enhance its corporate customers Islamic banking experience had paid off. 'As a testimony to the bank's growth journey, total equity attributable to shareholders of the bank increased to BD51.87m as at March 31, 2025, a 2.6pc increase from BD50.54m as at December 31, 2024, which demonstrates that the bank is on the right trajectory,' he said. Copyright 2022 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Biz Bahrain
15-05-2025
- Business
- Biz Bahrain
Ithmaar Bank reports Q1 2025 profits
Ithmaar Bank, a Bahrain-based Islamic retail bank, reported profits for the first quarter of the year as it announced its financial results for the three-month period ended March 31. Ithmaar Bank's financial results show a net profit attributable to equity holders for the three-month period ended March 31 of BD1.34 million compared to the net profit of BD4.25 million reported for the same period in 2024. Total net profit for the three-month period ended March 31 was BD3.77 million compared to BD7.74 million reported for the same period in 2024. The decrease is mainly due to reduced spreads resulting from the decreasing profit rate environment. His Royal Highness Prince Amr Al Faisal, Chairman of Ithmaar Bank, said following the review and approval of the Bank's consolidated financial results by the Board of Directors that the Bank had recorded profits despite the challenging market conditions, as it is working to achieve further growth by focusing on offering its products and services exclusively to meet the financial and investment needs of small and medium enterprises, as well as corporates and institutions. This is also attributed to the Bank's continued efforts and focus on achieving further growth in its core Islamic banking business in the Kingdom of Bahrain and Pakistan, in addition to enhancing the value of its strategic investments. On his part, Maysan Al Maskati, Chief Executive Officer of Ithmaar Bank, said the financial results show that the Bank's efforts to continue growing its core banking business and enhancing the Islamic banking experience for its corporate clients are bearing fruit. He added that what confirms the Bank's ongoing growth is the increase in total equity attributable to shareholders to BD51.87 million as at 31 March 2025, up by 2.6% from BD50.54 million as at 31 December 2024, which affirms that the Bank's performance is on the right track.
