Ithmaar Bank B.S.C. (closed), a Bahrain-based Islamic retail bank,
reported profits for the first half of the year as it announced its financial
results for the six-month period ended 30 June 2025.
The announcement, by Ithmaar Bank Chairman His Royal Highness Prince Amr Al Faisal, follows the review and approval of the Board of Directors of the Bank’s consolidated financial results.
The results show a net profit attributable to equity holders of the Bank for the three-month period ended 30 June 2025 of BD1.47 million compared to the net profit of BD3.53 million reported for the same period in 2024. Total profit for the three-month period ended 30 June 2025 was BD3.33 million, compared to a net profit of BD5.78 million for the same period in 2024. The decrease is mainly due to reduced spreads in their overseas business resulting from the decreasing profit rate environment.
The results also show a net profit attributable to equity holders for the six-month period ended 30 June 2025 of BD2.80 million, compared to a net profit of BD7.78 million for the same period in 2024. Total profit for the six-month period ended 30 June 2025 was BD7.10 million, compared to a net profit of BD13.52 million for the same period in 2024.
“On behalf of Ithmaar Bank Board of Directors, I am pleased to announce that despite the challenging global economic situation, the Bank continued to report profit for the half-year,” said HRH Prince Amr. “This is due to the Bank’s continuous efforts and focus to achieve further growth in its core Islamic banking business in Bahrain and Pakistan and further enhancing the value of its strategic investments,” he said.
Ithmaar Bank’s Chief Executive Officer, Maysan Al Maskati stated that “the financial results show that the Bank's efforts to continuously grow its core business and enhance its corporate customers Islamic banking experience had paid off”.
“As a result of the Bank’s continued efforts, the liquidity position has also improved, as reflected by an increase in its Liquidity Coverage Ratio (LCR) to 112 percent at 30 June 2025 from 104 percent at 31 December 2024,” said Al Maskati. “Furthermore, the deposit mobilisation efforts have yielded positive results as the quasi-equity liabilities has crossed BD1 billion mark, reaching BD1.07 billion at 30 June 2025 compared to BD0.96 billion at 31 December 2024,” he said.
Total owners' equity increased to BD53.34 million as at 30 June 2025, a 5.5 percent increase from BD50.54 million as at 31 December 2024.
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