IslamicFinance.de

Bosna Bank International's net profit increased to 6.4 million marka ($3.5 million/3.3 million euro) last year from 5.6 million marka in 2015. Net interest income grew 22.5% year-on-year to 22.3 million marka in 2016, while net fee and commission income rose to 10.9 million marka from 9.6 million marka. The bank's total assets stood at 895.4 million marka at the end of 2016.

Bosna Bank International announced its first-half net profit jumped to 3.2 million marka ($1.8 million/1.6 million euro) from 1.4 million marka in the same period last year. The lender's net interest income increased 31.5% to 10.9 million marka through June, while net fee and commission income rose 12.9% to 5.1 million marka. The bank's total assets stood at 768.7 million marka at the end of June.

Bosna Bank International (BBI) was established in 2000 as the first Islamic bank in Bosnia and Herzegovina and the first bank of this kind in Europe. The bank resulted from a greenfield investment by Islamic Development Bank, Abu Dhabi Islamic Bank and Dubai Islamic Bank. BBI had to overcome challenges like compliance with both Islamic banking principles and State Law on Banks, and the lack of awareness among Bosnians. Additional challenges were the education of workforce and how to overcome the market challenge. Today, BBI offers all types of commercial banking products which are all in compliance with Islamic principles and competitive to other banks’ offers. For more information see the attached document.

The founders of Bosna Bank International (BBI), the first bank in Bosnia and Herzegovina to do business based on Islamic principles, are to inject an additional 15 million euros to its capital stock to ensure business growth, according to the bank's director Amer Bukvic. The Islamic Development Bank (IDB), the Dubai Islamic Bank and the Abu Dhabi Islamic Bank had decided to inject fresh capital into BBI to the amount of 30 million convertible marks (EUR 15.3m). The fresh capital will be used to reinforce the bank's position in the medium-sized banking segment on the Bosnian banking market. BBI's assets will amount to 500 million convertible marks (EUR 255.7m) after the capital increase. Moreover, Bukvic announced that the bank would be releasing loans to the value of 300 million convertible marks (EUR 153.4m).