Company reports a net profit of US$1.6 million for the 9 months of 2012

Manama, November 13th, 2012 - Capinnova Investment Bank, the Shari'a compliant investment banking arm of BBK, announced that the bank has reported a net profit of US$ 418 thousand for the three months ended 30th September 2012 as compared to net profit of US$ 425 thousand for the same period in 2011. The gross revenues for the third quarter in 2012 were US$ 1.9 million in comparison to US$ 2.3 million for the same period in 2011.

Capinnova has reported a net profit of US $1.6 million for the 9 months of 2012 as compared to a net profit of US$ 2.4 million during the same period in 2011. The gross revenues for the 9 months of 2012 were US$ 6 million as compared to US$ 7.4 million for the period ended 30th September 2011.  

Mr. Abdul Kareem Bucheery, Chairman at Capinnova Investment Bank said, "We aim to grow our revenues and improve the returns on investments for our stakeholders. We are delighted to have reported profits yet again in the third quarter of 2012 and we will strive to further boost our performance over the last quarter of this year," added Mr. Bucheery.  

Mr. Jamal Hijres, Chief Executive Officer at Capinnova Investment Bank said, "We are motivated to achieve stability and strength in our earnings. At Capinnova, we have always stayed focused on our key objectives to mitigate the negative impact of the tough global market conditions."

About Capinnova Investment Bank:
Capinnova Investment Bank is a Shari'a compliant investment bank licensed by the Central Bank of Bahrain and is wholly owned by BBK. The bank is well capitalized with an authorized capital of US$500 million and a paid-up capital of [US$151.5] million. The Bank's core areas of business include private equity, asset management and corporate finance. Capinnova's vision is to be a world class Islamic investment bank offering a range of high quality Shari'a compliant products and services to a diverse clientele including financial institutions, companies & establishments,  high-net-worth-individuals and family businesses, regionally and globally. The Bank's mission is to become the Islamic investment bank of choice and a niche player, providing clients in the GCC and the MENA region with superior investment products aimed at building and sustaining shareholder value, whilst maintaining an optimal balance between risks and returns. www.capinnovabank.com.

For further information please contact:
Maroun Hannoush
Director, Head of Corporate Communications
Capinnova Investment Bank
Floor 38, West Tower, Bahrain Financial Harbour
P.O. Box 5507, Manama,
Kingdom of Bahrain
Tel. Off. : +973 17101010 
Website: www.capinnovabank.com

Prem A. Ramachandran
Managing Director
White Water Public Relations
GSM:0097150-4537253
Email: prem@whitewaterpr.com                    
PO. Box 18936, Dubai, UAE            
www.whitewaterpr.com

© Press Release 2012