Taib Bank H1 net rises 22pc

MANAMA— Bahrain-based Taib Bank posted a net income of $9.4 million in the first six months of 2005, up 22 per cent from the same period last year.

By (Reuters)

Published: Fri 26 Aug 2005, 12:45 PM

Last updated: Thu 2 Apr 2015, 4:16 PM

Total assets at the end of June stood at $378 million compared to $388 million at the end of 2004, the international private bank said in a statement received on Wednesday. Operating income increased about 13 per cent to $17.8 million.

The sale of investments contributed more than 50 per cent of operating income, the statement said, mainly from three UK real estate investments worth a total of around $257 million. Shareholders’ equity stood at $146 million in the first six months of 2005, it said without giving a comparative figure.

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