IIB net profit up 92.2pc

MANAMA — International Investment Bank (IIB) yesterday announced its results for the year ended December 31, 2006.

By A Staff Reporter

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Published: Tue 27 Feb 2007, 9:10 AM

Last updated: Sat 4 Apr 2015, 8:31 PM

IIB's net profit grew by 92.2 per cent over the previous year to $13.5 million, reflecting the continued progress in the bank's business. Total income almost doubled, reaching $24.6 million, compared with $12.4 million for 2005.

2006 was IIB's third full year of operations. In addition to arranging several new major real estate investments in Dubai, France and Saudi Arabia, the Bank made strategic direct investments in Islamic financial services institutions in the UK and Kuwait, which will complement its existing stake in European Islamic Investment Bank.

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