Board proposes dividend of 35 % (25 % cash & 10 % stock)
Manama, January 29, 2018 -- National Bank of Bahrain (NBB) reported strong financial results and growth for the financial year ended 31 December 2017 with record Net Profit of BD 61.01 million (US$ 162.25 million), an increase of 4.8%, compared to BD 58.24 million (US$ 154.88 million). For the fourth quarter of the year, the Bank recorded a Net Profit of BD 11.58 million (US$ 30.80 million) compared to BD 12.03 million (US$ 31.99 million) for the corresponding period in 2016. Earnings Per Share (EPS) for the year also improved to 48.4 fils for 2017 from 46.3 fils in 2016 reflecting the Bank’s enhanced performance and continued effective cost management. These results, which were reviewed and approved by the Bank’s Board of Directors on 29 January 2018, saw the Board recommend a 2017 dividend of 35 % (25 % cash dividend and 10 % stock dividend).   

The National Bank of Bahrain (NBB) announced the conclusion of its first “NBB Health Week” for staff which took place between 12 and 16 November 2017. The main objective of the programme, which took place at the Bank’s Manama headquarters, was to promote overall wellbeing and to educate staff on the importance of living a stronger, healthier life. The week’s activities comprised of a series of workshops, and health related campaigns aimed at quipping staff with the right methods, tools and resources to help them to improve their lifestyle and work towards more effectively meeting their weight and fitness goals.

The Bank recorded a Net Profit of BD 31.74 million (US$ 84.41 million) for the six months ended 30 June 2017 compared to BD 31.72 million (US$ 84.36 million) for the corresponding period of 2016. During the 1st half of 2017, the Bank achieved an Operating Profit of BD 38.01 million (US$ 101.09 million), an increase of 6.6 percent over BD 35.66 million (US$ 94.84 million) achieved during the corresponding period of 2016. For the second quarter of 2017, the Bank recorded a Net Profit of BD 17.00 million (US$ 45.21 million), a strong increase of 21.8 per cent compared to BD 13.96 million (US$ 37.13 million) for the corresponding period of the previous year.

The Bank recorded a Net Profit of BD 49.43 million (US$ 131.46 million) for the nine months ended 30 September 2017 compared to BD 46.21 million (US$ 122.90 million) for the corresponding period of the previous year, an increase of 7.0 percent. During the nine months ended 30 September 2017, the Bank achieved an Operating Profit of BD 55.77 million (US$ 148.32 million), an increase of 11.3 percent over BD 50.13 million (US$ 133.32 million) achieved during the corresponding period of 2016. For the third quarter of 2017, the Bank recorded a Net Profit of BD 17.69 million (US$ 47.05 million) compared to BD 14.49 million (US$ 38.54 million) for the third quarter of 2016, a strong increase of 22.1 percent.

 The Bank recorded a Net Profit of BD 14.74 million (US$ 39.20 million) for the first quarter of 2017 compared to BD 17.76 million (US$ 47.23 million) for the corresponding period of the previous year, a decrease of 17.0 percent. The Bank achieved an Operating Profit of BD 19.05 Million (US$ 50.66 Million) for the first quarter of 2017, an increase of 3.8 percent over BD 18.36 million (US$ 48.83 million) achieved during the first quarter of 2016.