Financial and Banking News


Provisions Hit NBB Net Earnings

The National Bank of Bahrain has announced that it is taking provisions of BD1.5in ($4mn) to cover bad debts and a drop in the value of its portfolio of local shares, so that its net earnings dropped from BD12.5mn in 1983 to BD10.7mn ($28.5mn) in 1984. Assets grew 14% to BD639.3mn ($1.7mn), while shareholders' equity was up marginally to BD57.7mn ($153mn).