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.

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