Al Salam Bank-Bahrain Q1 net profit BHD 3.053 million, up 68 per cent

Shari’ah-compliant Al Salam Bank-Bahrain reported a net profit of BHD 3.053 million in the first quarter of 2013, up 68 per cent. The bank also reported a rise of 32 per cent in total operating income to BHD 6.184 million. Total operating expenses fell BHD 122,000 to BHD 2.63 million, mainly as a result of an 8.5 per cent cut in staff costs to BHD 1.38 million. Provisions and write-offs were BHD 501,000 against BHD 117,000 in the same period last year. Al Salam Bank-Bahrain reported total assets of BHD 989.293 million, up from BHD 942.218 million in Q1 2012. Total liabilities rose from BHD 715.877 million to BHD 766.633 million.