Middle East Economic Survey

VOL. LIII

No 9

01-March-2010

BAHRAIN

FEB Announces $14.2Mn Profit For 2009

Bahrain-based First Energy Bank (FEB) announced on 24 February that it had made a profit of $14.2mn in 2009 compared with $42,000 in 2008, the companys first full year of operations. FEB also reported a gross income of $47.41mn for 2009 as compared to $17.03mn in 2008. Total assets have increased from $1.021bn to $1.233bn in 2009 when compared to the previous year. Established in...