Latest news with #owners
Zawya
a day ago
- Business
- Zawya
Bahrain: BBK reports first-half net profit of $102.39mln
Bahrain - BBK has announced its financial results for the half year ended June 30, 2025, including the second quarter of the year. The group achieved a net profit attributable to the owners of the bank of BD17.5 million for the second quarter of 2025 compared to BD16.2m in the same period last year, an increase of 8.0 per cent. The basic and diluted earnings per share amounted to 10 fils compared to 9 fils achieved during the corresponding period last year, reflecting a growth of 8.2pc. Total comprehensive income attributable to the owners of the bank increased by 73.2pc from BD9.7m achieved during the second quarter of last year to BD 16.8m during the current period, mainly due to the increase in market values of investment securities. The increase in net profit was mainly attributable to a higher share of profit from associates and joint ventures, recording a profit of BD 0.2m during the second quarter of 2025 compared to a loss of BD1.1m during the second quarter of the corresponding year. In addition, net fees and commission income increased by 9.3pc from BD4.3m to BD4.7m. Furthermore, net provisions and credit losses were reported as BD5.9m in the second quarter of 2024 compared to BD2.5m during the same period of the current year, representing a drop of 57.6pc. On the other hand, net interest income was lower by 5.4pc at BD30.0m from BD31.7m, whilst total operating expenses increased by 8.5pc from BD17.6m to BD19.1m. The group achieved a net profit attributable to the owners of the bank of BD38.6m for the first half of 2025 compared to BD36.5m in the same period last year, an increase of 5.8pc. The basic and diluted earnings per share amounted to 21 fils compared to 20 fils during the same period last year, reflecting a growth of 5.9pc. Total comprehensive income attributable to the owners of the bank for the first half of 2025 amounted to BD32.3m compared to BD36.9m during the corresponding period last year, representing a decline of 12.5pc, as a result of the drop in valuation of investment securities due to market volatility. The net profit was supported by higher share of profit from associated companies and joint ventures, which amounted to BD0.6m during the first half of the current year, compared to a share of loss of BD2.1m during the same period last year. Moreover, the net fees and commission income registered a solid growth of 9.3pc increasing from BD8.6m to BD9.4m. Furthermore, investment and other income increased by 21.9pc from BD9.6m to BD11.7m, reflecting the bank's dynamic business model and its efforts to diversify income from non-interest income streams. Also, the group's net provisions and credit losses reported as BD5.7m compared to BD9.6m for the same period of the year 2024, showing a decline of 40.6pc, mainly on account of active management of credit risk and distressed exposures, and higher recovery efforts. On the other hand, net interest income decreased by 8.1pc from BD63.9m to BD58.7m as a result of market interest rate cut witnessed in last quarter of 2024. Total operating expenses grew by 6.3pc from BD33.6m during the first half of 2024 to BD35.7m during the same period of this year, mainly due to continued investment in our human capital and various strategic and business initiatives. The total shareholders' equity attributable to the owners of the bank reported a drop of 1.5pc at BD611.7m as of end of June 2025, compared to BD620.8m as of year-end 2024, mainly due to the dividend declaration. Total assets as of end of June 2025 reported a growth of 2.5pc to stand at BD4,295.4m (31 December 2024: BD4,192.6m). Net loans and advances reported a growth of 14.1pc at BD2,046.6m (31 December 2024: BD1,794.1m) while investment securities portfolio grew by 20.5pc to BD1,131.6m (31 December 2024: BD939.4m). On the other hand, treasury bills decreased by 14.6pc to reach BD340.8m (31 December 2024: BD399.2m), deposits and amounts due from banks and other financial institutions decreased by 30.6pc to stand at BD116.5m (31 December 2024: BD167.9m). Customer deposits registered a decline of 3.0pc to stand at BD2,340.0m (31 December 2024: BD2,411.3m), driven by market dynamics and customer behaviour preferences. Based on the interim results achieved, the board of directors has decided to distribute an interim cash dividend of 12.5pc (12.5 fils per share), subject to regulatory approvals. Commenting on the group's results, the board of directors stated: 'In a period marked by a challenging and uncertain operating environment, we are pleased to announce BBK achieving solid financial results. The achievement is the outcome of a clear strategic focus, disciplined risk management and a strong commitment to long-term value creation.' Yaser Alsharifi, BBK's group chief executive, added: 'I am delighted with the sound performance achieved by BBK. In addition to the steady growth in our net profit, we continued to invest in our environmental, social, and governance (ESG) initiatives as we made significant strides in advancing our commitment towards integrating sustainability into our core operations, strengthening our governance practices and driving positive impact in the communities we serve. Recently, we have announced our collaboration with the Royal Humanitarian Foundation, which aligns with the bank's broader vision to support community development and foster impactful humanitarian and charitable efforts across the Kingdom of Bahrain. 'As we reflect on another period of strong performance, I am confident in the solid foundation we have built for the future. Looking ahead, we remain committed to creating lasting value for our shareholders, partners and communities. 'Subsequent to the quarter end, the Central Bank of Bahrain (CBB) has approved the transfer of HSBC Bank Middle East, Bahrain Branch's retail (consumer) banking operation to BBK and we have identified that completion of the transfer will take place by the fourth quarter of 2025. We are thrilled to welcome HSBC Bahrain's retail customers and employees to the BBK family and commit to a seamless integration. This transaction represents a key achievement in our pursuit of strategic objectives, enhancing our market reach and shareholders' value. The milestone aligns with BBK's broader vision of strengthening its foothold in the banking sector by leveraging strategic opportunities that support the bank's long-term ambitions. 'The bank successfully closed a $500m, three-year club loan facility, which shall support bank's strategic initiatives, business expansion, and refinance the 2023 facility. Aligned with BBK's sustainability objectives and its commitment to diversifying funding sources, the facility has been structured to include a sustainability-linked option. This highlights BBK's strong financial position and its dedication to sustainable growth'. Copyright 2022 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Entrepreneur
7 days ago
- Business
- Entrepreneur
Not Getting New Clients Through Referrals? This Invisible Mistake Could Be Why
Marketing can't buy trust — but showing up in your community can Opinions expressed by Entrepreneur contributors are their own. You bought the franchise or launched your business. You have the signs, staff and systems in place. But there's one critical element many overlook: visibility where it truly counts — in your own community. Maybe you've noticed your leads have flattened, referrals have dried up and you're left wondering, "What happened?" Here's a surprising truth: Consumers aren't loyal to brands anymore. They're loyal to people. In today's crowded marketplace, the businesses that thrive are the ones with owners who are visible, relatable and genuinely invested in their neighbors' lives. Not flashy influencers or TikTok famous — just present, authentic and connected. Humanizing your business requires a mindset shift. Your future customers want to know the real you. What drives you? Why did you start or buy this business in their neighborhood? I get it. You're thinking, "I'm not a marketer, and I have zero time for social media." But here's the secret — when you push past the fear of putting yourself out there and start showing up consistently, the results will surprise you. You'll wonder why you didn't start sooner. Don't overcomplicate it. Let your involvement flow naturally from your passions and life. Share simple weekly tips based on your expertise or sponsor your kid's local sports team. These small, authentic actions have big ripple effects on referrals and reputation. Related: How to Better Manage Your Brand's Reputation in the Digital Age Visibility isn't vanity — it's vital This isn't about becoming a social media star. It's about stepping out from behind your brand and showing up as yourself — in your neighborhood, your industry and in the lives of your customers. When people think of the services you offer, they should think of you by name — not because you spent a fortune on ads, but because you're a familiar, trusted presence where it matters most. Show up where your community already gathers: Sponsor local sports teams. Greet homeowners personally when you arrive on site. Attend ribbon cuttings, block parties and community events. This isn't "networking." It's about being known and trusted because you show up consistently. Pro tip: Hate marketing? Great. Just do good work in your neighborhood, and let that be your marketing. Your personal brand keeps you in the game Your franchise or company name opens doors, but how you show up keeps you there. If you're a local service provider, don't let your team handle the job without you making a personal appearance. Meet your customers at the final inspection. Shake hands. Thank them. Recognize your crew in front of the client. Small gestures of appreciation build lasting loyalty and generate powerful word-of-mouth. This approach doesn't need a complicated content calendar — just genuine, consistent connection. Pro tip: Share stories about your team, community involvement, or customer successes rather than hard sales pitches. When people respect you, you don't need to sell. Use storytelling to make your business memorable People remember stories, not slogans. Want to stand out? Share why you started your business, how customer feedback changed your approach or lessons learned while serving your neighborhood. Real stories create emotional connections, build trust and drive referrals. Ways to share your story: A short video about your journey. A blog post or LinkedIn article with a valuable lesson. A talk at local clubs or service organizations—no sales pitch, just connection. Brief posts on social media celebrating milestones. Pro tip: Keep a running list of meaningful customer experiences to turn into stories when the moment is right. Related: Creating a Brand: How To Build a Brand From Scratch Stop being invisible — start being known Flat leads, stalled growth, and dry referral streams aren't always about the economy or competitors. Sometimes, it's simply that no one knows who's behind the business. Here's the fix: Get involved locally. Join service clubs, attend chamber events, support neighborhood charities and festivals. Meet other business owners, refer them and let them refer you. When people know you, they trust you. That trust multiplies, and your reputation grows exponentially. Get your whole team involved — each person becomes an ambassador who extends your reach. Pro tip: Don't treat every interaction as a sales opportunity. Just be someone people want to support. Get out there and show up Marketing requires time and money, but so does community engagement — and one feels authentic, the other doesn't. Stop hiding behind your brand. Invest in your neighbors' lives. Stop chasing attention and start earning it. You don't need to be a social media rock star. You just need to be present and known in your corner of the world. Ready to break through your revenue ceiling? Join us at Level Up, a conference for ambitious business leaders to unlock new growth opportunities.
Yahoo
20-07-2025
- Business
- Yahoo
Noe Valley restaurant closes after 4 years in SF neighborhood
(KRON) — A neighborhood restaurant in San Francisco's Noe Valley is closing. Mr. Digby's Bar & Restaurant announced Thursday it is shutting its doors for good after four years. The establishment is located at 1199 Church St., near 24th Street. It opened during the pandemic while the owners were starting a family, raising two newborns, the restaurant said in a Facebook post. Famed SF pizzeria named the 3rd-best in US for 2025 'We poured our souls into creating a neighborhood hub that we'd love to hang out in, and although it didn't quite work out, we're incredibly proud of what we achieved,' Mr. Digby's wrote in the post. 'We're forever grateful to our amazing staff, loyal customers, and supportive neighbors who made it all possible. Here's to an unforgettable four years and an exciting new chapter ahead.' Despite Mr. Digby's closure, patrons of the now-closed establishment can visit the sister restaurant NOVY located at 4000 24th St. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. Solve the daily Crossword
CBC
17-07-2025
- Business
- CBC
Landlords fight City of Vancouver over $1.6M demolition bill for fire-plagued apartment building
The owners of a fire-plagued property in East Vancouver are facing a $1.6 million bill for the building's demolition. The city tore down the low-rise apartment building on East 10th Avenue, near Kingsway last August following a series of blazes. As Jason Proctor reports, the owners have sued to try to stop the city from charging them.
National Post
15-07-2025
- Business
- National Post
MLB's 2027 work stoppage? Baseball folks already are talking about it
Article content Major League Baseball's all-star break is no longer a break, not for the people who run these clubs, anyway. Article content The draft, which is just about all-consuming for team executives, runs Sunday and Monday of all-star week. Article content Article content The trade deadline looms at the end of the month. When to rest? Article content 'Circle Dec. 2, 2026, on your calendar,' one exec said this month. 'If you have one of these jobs and you ever wanted to go to New Zealand or something, that's the time to go.' Article content It was a joke. But it's deadly serious for the sport. Article content On Dec. 1, 2026, the collective bargaining agreement between MLB and the players association expires. The expectation throughout the sport: The owners will lock out the players then. That means general managers not only can't be in touch with members of their own teams, they can't be in touch with representatives of free agents. No calls. No texts. No deals. No trades. No business. Article content New Zealand would be kind of a bucket-list trip, wouldn't it? Article content This isn't to put a damper on Monday night's Home Run Derby or Tuesday night's All-Star Game, both held on the outskirts of Atlanta. It's to acknowledge that the threat of a work stoppage is very real and the people who run baseball operations departments already are considering how it will impact the way they do business. As in: Do I really want to commit three years to a player if one of those years could be all but wiped out? Article content That's not a doomsday scenario. Those discussions are happening in front offices right now. The last lockout produced the CBA that covered the 2022-26 seasons. It delayed the start of the 2022 season but cost zero major league games. The next one? Article content Article content 'Maybe I'm wrong,' one head of a baseball operations department said. 'But this one feels like it's going to be long.' Article content Another exec said, 'The owners are loaded for bear this time.' Article content What MLB wants without saying it directly: a salary cap. The Los Angeles Dodgers are spending $341 million on players this year, the New York Mets $332 million, according to Spotrac. The Vegas-bound Athletics are spending $77.1 million, the Miami Marlins $67.6 million. Not coincidentally, the Dodgers and Mets enter the all-star break in playoff position. The A's and the Marlins do not. Article content 'We do not have the kind of cost certainty, predictability and competitive balance mechanisms in our player comp system that the three other major professional sports have,' Commissioner Rob Manfred said at an investor event hosted last month by the Atlanta Braves, according to Sports Business Journal. 'That's just a fact.' Article content Two words he doesn't use: 'salary' and 'cap.' But you don't have to read between the lines to understand what he's saying.
