Bahrain's confident growth
29/08/2008
Bahrain's banking sector continued to show dynamic and confident growth in the first half of 2008 with very strong financial results across the board as well as a number of new banks being granted banking licences by the kingdom's financial services regulator, the Central Bank of Bahrain (CBB).
Overall, the total consolidated balance sheet of the banking sector increased by $17 billion (Dh62.53bn), to reach $269.5bn at the end of June 2008, compared with $252.5bn at the end of March.
Khaleeji Commercial Bank, a niche Islamic bank and part of the Gulf Finance House group, reported that its profits have grown a staggering 224 per cent, with total assets up 182 per cent in the space of one year.
Other banks reporting healthy balance sheets and double-digit profit growth include Venture Capital Bank, BMI Bank and United Gulf Bank.
