Financial and Banking News
NBB Profits Fall, Dividend Halved
The National Bank of Bahrain (NBB), has announced profits of BD8.04mn ($21mn) for 1985, a 25% drop from the previous year's BD10.74mn, and has cut its dividend from 30% to 15%. Assets shrank by 17% to BD533mn ($1.4bn) while the loan portfolio contracted by 21% to BD248mn ($658mn). The drop in net income was caused by a fall in operating income from BD13 04mn to BD12.3mn and an increase in loan loss...