National Bank of Bahrain records BD 53.44m net profits in 2014

National Bank of Bahrain (NBB) achieved a Net Profit of BD 53.44 million (US$ 142.12 million) in 2014, compared to BD 51.36 million (US$ 136.60 million) in 2013, an increase of 4.0%.
For the fourth quarter of 2014, the Bank recorded a Net Profit of BD 11.28 million (US$ 30.00 million) compared to BD 11.27 million (US$ 29.97 million) for the corresponding period of the previous year.
The Earnings Per Share (EPS) improved from 54.6 fils in 2013 to 56.8 fils in 2014.
At the Board of Directors meeting held on 21 January 2015, chaired by the Bank’s Chairman, Farouk Yousuf Khalil Almoayyed, the Board reviewed and approved the Bank’s financial results for the year 2014.
Expressing his satisfaction on the performance, the Bank’s Chairman Mr. Farouk Almoayyed said:
"These results reflect the sustained progress made by the Bank and our ability to enhance returns to our shareholders".
Mr. Almoayyed thanked the Bank’s clients for their valued business relationship and the confidence reposed by them in the Bank and also appreciated the efforts of the executive management and the staff members for their dedicated service, commitment and all round efforts.
Mr. Abdul Razak A Hassan Al Qassim, the Bank’s Chief Executive Officer & Director said:
"We are pleased to report a Net Profit of BD 53.44 million (US$ 142.12 million), the highest ever achieved by the Bank. 2014 was another successful year for the Bank and we continue to maintain growth momentum backed by a healthy balance sheet and a strong capital position".
Looking ahead, Mr. Abdul Razak Qassim said:
"As we head into 2015, there are significant uncertainties particularly for the region with lower oil prices challenging growth prospects. We are hopeful the regional authorities will effectively utilise the surplus funds accumulated over the years along with the required policy initiatives to maintain growth. We reaffirm our strong commitment to meet the expectations of our customers while reassuring our shareholders of continued progress in the years ahead."