KHCB fastest growing bank in Bahrain

Manama: Khaleeji Commercial Bank (KHCB), one of the leading Islamic banks in Kingdom of Bahrain, received the award for “the fastest growing bank in Bahrain” granted by CPI Financial Banker Middle East and Africa, which is one of the largest institutions specialised in the financial news and analysis in the region.

Khalil Ismail Al Meer, in his capacity as Bank’s CEO, received the award on behalf of KHCB, in the annual awards ceremony organised by the Institution in Dubai.

This award was granted to the bank due to the strong financial results and the deeply rooted growth achieved by the bank during the last period including the net income, liabilities, and revenues, return on equity and return on assets.

Receiving the award, Al Meer, stated: “This award is the result of our customers’ trust on the leading and innovative services rendered by the bank.”

He added, “During the last period, we have focused our efforts on developing the services and products that meet the needs of our customers by launching series of the initiatives that add distinguished experience to our clients. The bank often seeks to provide a better level of customer services and this award reflects our commitment in this regard.”

For the first quarter of financial year 2016, the bank achieved net profit, attributable to the owners of the bank, of BD2,85 million with a growth of 70.7 per cent, compared to the net profit of BD1,67m for the same period in 2015. Gross fixed deposits from the clients have increased by 1.7pc to reach BD493,6m. The financing assets has also shown a tremendous increase by 5.8pc to reach BD 410,1m.