Bahrain Middle East Bank BSC Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Announces Impairment Provisions for the Second Quarter Ended June 30, 2015
For the quarter, the bank also announced impairment provisions net were $103,000 against $1,064,000 a year ago.
For the six months, the bank reported interest income of $5,464,000 against $4,710,000 a year ago. Net interest income was $4,723,000 against $4,139,000 a year ago. Total operating income was $5,773,000 against $6,099,000 a year ago. Net profit for the period before impairment provisions was $3,520,000 against $3,603,000 a year ago. Net profit for the period was $3,212,000 against $2,372,000 a year ago. Basic and diluted earnings per share were 1.33 cents against 0.98 cents a year ago. Net cash used in operating activities was $10,710,000 against net cash from operating activities of $5,399,000 a year ago.