Manama, February 22 (BNA): The National Bank of Bahrain announced a 20.6% decrease in its net profit attributable to shareholders to BD8.1 million (US$21.5 million) for the fourth quarter ended December 31, 2021, compared to BD10.2 million (27.1 million). US dollars) in the same period in 2020.
The decrease in net profit is mostly due to lower income from non-core activities, specifically recoveries from previously written off assets.
Basic and diluted earnings per share for the fourth quarter decreased to 4 fils (1 cent) compared to 5 fils (1 cent) in the same period in 2020.
Total comprehensive income attributable to shareholders of National Bank of Bahrain for the first quarter decreased by 71.8% to BD9.0 million (US$23.9 million) compared to BD31.9 million (US$84.6 million) in 2020. This decrease is mainly due to the movements The market has seen the market. Portfolios of sovereign bonds and Bahraini stocks.
Operating income decreased by 10.1% in the fourth quarter to reach BD36.4 million (US$96.6 million) compared to BD40.5 million ($107.4 million) in the three-month period last year. The decrease is mostly due to lower income from non-core activities, specifically recoveries from previously written-off assets.
12 months ending December 31, 2021
The National Bank of Bahrain announced a 1.1% increase in its net profit attributable to shareholders to BD53.9 million ($143.0 million) for the year ended December 31, 2021, compared to BD53.3 million ($141.4 million) in 2020. Net Profit The corresponding consolidated increased by 8.5% from BD 50.7 million (US$ 134.5 million) to BD 55 million (US$ 145.9 million). The increase was recorded despite the decrease in the group’s other non-core income and contingent provisions taken in 2021, highlighting the resilience of NBB’s core activities in the form of net interest, fees and commission income.
Basic and diluted earnings per share were 29 fils ($8 cents), at the same level as 2020.
Total comprehensive income attributable to shareholders of National Bank of Bahrain decreased by 10.0% to BD45.1 million (US$119.6 million) compared to BD50.1 million (US$132.9 million) in 2020. Other comprehensive income includes market movements within a year that includes the year and thus Temporary fluctuations in the fair value of Bahraini sovereign bonds as well as movements in the market values of equity portfolios.
Operating income for the year increased by 2.0% to BD 150.9 million (US$ 400.3 million) compared to BD 147.9 million (US$ 392.3 million) in 2020. The increase in income from the Bank’s core revenue sources and net interest, fees and commission income resulted in The decrease in non-core income from recoveries outweighed previously written-off assets.
Total equity attributable to the owners of the group increased by 1.6% to BD527.8 million ($1,400.0 million) compared to BD519.7 million ($1,378.5 million) as of December 31, 2020. This increase is attributable to profit for the year Complete attributable to shareholders. The bank, minus the 2020 dividend.
Total group assets increased by 4% to BD 4.535.6 million ($12.030.8 million) compared to BD4,361.4 million ($11,568.7 million) recorded on December 31, 2020. The increase is attributed to continued strong demand. on National Bank of Bahrain loan products.
The recommended 2021 appropriations will be presented to shareholders at the annual general meeting. These funds include BD 37.5 million for cash dividends of 20% and BD 2.7 million for donations and contributions. The Board of Directors also proposed to issue one grant for every 10 by utilizing BD 18.7 million of retained earnings and transferring BD 9.4 million of retained earnings to the legal reserve.
“It has been a very productive year, and we are pleased with the financial results for this year, which represent the overall positive growth for the year,” said NBB Chairman Farooq Yousef Khalil Almoayyed.
Our net profit has shown an increase over the same period in 2020, and the group balance sheet remains strong by showing growth since the end of the year. The National Bank of Bahrain also achieved several milestones over the course of the quarter, earning the prestigious ‘We Invest in People’ Gold accreditation from retail investors, becoming one of the few selected banks worldwide, and the first in the region to receive this. Accreditation”.