IslamicFinance.de

Bahrain-based International Investment Bank's (IIB) total income reached USD 1.8 mn in Q1. This was mainly derived from investment banking fees generated from the structuring, underwriting and placement of new investments, together with profit earned on funds placed with financial institutions.

Total expenses reduced to USD 2.7 mn in the period, reflecting the lower business activity as compared to a year ago. A net loss was incurred of USD 900,000 compared to a net profit of USD 5.4 mn earned in the same period last year.