MANAMA, BAHRAIN – Ithmaar Bank B.S.C. (Closed), a Bahrain-based Islamic retail bank, reported improved net profit attributable to equity holders for the first quarter of the year as it announced its financial results for the three-month period ended 31 March 2026.

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.

Ithmaar Bank’s financial results show a net profit attributable to equity holders for the three-month period ended 31 March 2026 of BD1.42 million, a 6.4 percent increase compared to the net profit of BD1.34 million reported for the same period in 2025. Total net profit for the three-month period ended 31 March 2026 was BD3.72 million, largely in line with BD3.77 million net profit reported for the same period in 2025.

“On behalf of the Ithmaar Bank Board of Directors, I am pleased to report that the Bank continues to report improved profits despite the challenging market environment and the recent developments in the region,” 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 results reflect the Bank’s disciplined execution of its funding and balance‑sheet strategy, enabling it to deliver improved profitability for shareholders. He noted that continued focus on optimising the funding mix and controlling funding costs has strengthened earnings resilience in a challenging market environment.

“Our prudent management of funding costs—evidenced by an 8.2 percent reduction in profits paid to quasi-equity holders—has helped the Bank navigate the challenging market environment characterised by lower benchmark rates, limiting the decrease in total income to just 1.1 percent,” said Al Maskati. “Despite lower operating income resulting from reduced benchmark rates in our overseas operations, we delivered improved profitability for our shareholders through disciplined balance sheet and funding management. The Bank continues to maintain sufficient liquid assets of BD238.89 million, which have remained largely unchanged from 31 December 2025 levels,” he said.

“Our approach to balance sheet and funding management is also reflected in our efforts to reduce high-cost deposits and funding in favour of low-cost deposits, said Al Maskati. “This has resulted in quasi-equity balances declining by BD221 million, from BD1.32 billion as at 31 December 2025 to BD1.10 billion as at 31 March 2026. This was partly offset by an increase in current account balances, which rose by BD93 million to BD1.02 billion, compared to BD0.93 billion at year-end 2025,” he said.  

“As a testimony to the Bank’s growth journey, total equity attributable to shareholders of the Bank increased to BD56.36 million as at 31 March 2026, a 2.6 percent increase from BD54.94 million as at 31 December 2025, which demonstrates that the Bank is on the right trajectory,” he said.

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 of institutions, corporates and SMEs. Ithmaar Bank also maintains a presence in overseas markets through its subsidiary, Faysal Bank Limited (Pakistan)

www.ithmaarbank.com