Financial and Banking News
Alahli Commercial Bank's Profit Cut by Provisions
Higher provisions for loan losses and a revaluation of the investment portfolio knocked BD780,000 ($2.2mn) off the net earnings of one of Bahrain's smaller commercial banks, Alahli Commercial Bank. Assets grew by 16% to BD138mn ($373mn), the loan portfolio was up 20% to BD99.4mn ($269mn) and deposits increased 17% to BD132mn ($356mn). A big increase in letters of credit and...