Aug 28 2008 |
more articles from
|
Bahrain's banking sector continues strong growth
DUBAI - Bahrain's banking sector continued to show dynamic and confident growth in the first half of 2008 with very strong financial results across the board as well as a number of new banks being granted banking licences by the Kingdom's financial services regulator, the Central Bank of Bahrain (CBB) , said a Press release on Wednesday.Overall, the total consolidated balance sheet of the banking sector increased by $17 billion, to reach $269.5 billion at the end of June 2008, compared with $252.5 billion at the end of March.
Khaleeji Commercial Bank , a niche Islamic bank and part of the Gulf Finance House group, reported that its profits have grown a staggering 224 per cent, with total assets up 182 per cent in the space of one year.
Other banks reporting healthy balance sheets and double digit profit growth include Venture Capital Bank , BMI Bank and United Gulf Bank .
Commenting on these strong developments in Bahrain's banking sector, Shaikh Mohammed bin Essa Al-Khalifa, Chief Executive of The Bahrain Economic Development Board (EDB) said: "Banking remains one of our key strengths in Bahrain and we are delighted that the first half of 2008 has seen not only healthy financial results from our established banking operations, but also a number of exciting new ventures which will strengthen our position as the Gulf's premier banking centre."
(By a staff reporter)
© Khaleej Times 2008
Zawya Comment Policy
-
Zawya encourages you to add a comment to this discussion. You agree that when you add content to this discussion your comments will not:
1.1 Contain any material which is libelous or defamatory of any person, is obscene, offensive, hateful or inflammatory or causes damage to the reputation of any person or organisation.
1.2 Promote sexually explicit material, violence, discrimination based on race, sex, religion, nationality, disability, sexual orientation or age or any illegal activity.
1.3 Be made in breach of any legal duty owed to a third party, such as a contractual duty or a duty of confidence.
1.4 Be threatening, abuse or invade another's privacy, or cause annoyance, inconvenience or needless anxiety.
1.5 Be used to impersonate any person, to misrepresent your identity or affiliation with any person, or be likely to deceive any person.
1.6 Give the impression that they represent Zawya.
1.7 Advocate, promote or assist any unlawful act such as (by way of example only) copyright infringement or computer misuse. - The content posted on www.zawya.com is created by members of the public. The views expressed are theirs and unless specifically stated are not those of Zawya. Zawya reserves the right to review all comments prior to posting and edit or delete any contribution, but Zawya is not responsible for and can not be held liable for any content posted by members of the public on www.zawya.com.
- Zawya is not responsible for the availability or content of any third party sites that are accessible through www.zawya.com. Any links to third party websites from www.zawya.com do not amount to any endorsement of that site by Zawya and any use of that site by you is at your own risk.
- By submitting your comment, you hereby give Zawya the right, but not the obligation, to post, air, edit, exhibit, telecast, webcast, re-use, publish, reproduce, use, license, print, distribute or otherwise use your comments worldwide, in perpetuity.
Copyright © 2012 Zawya Ltd. All rights reserved. |
provided by www.zawya.com |
Post Your Comment