Bahrain-based Capinnova Investment Bank, the Shari’a compliant investment banking arm of BBK, has reported a net profit of $806,000 for the second quarter of the year as compared to a net profit of $159,000 for the same period in 2010.

The gross revenue for the second quarter in 2011 was $2.5 million in comparison to $1.9 million for the same period in 2010.

Capinnova has reported a growth of 24.3 per cent in net profit for the 6 months ended June 30 as compared to the same period during the previous year.

The net profit reported for the first half of 2011 was US $2 million as compared to a net profit of $1.6 million during the same period in 2010.

The gross revenue for the first half of 2011 was $5 million as compared to $5.3 million (which included a one off revenue of $1.6 million related to Sakana) for the period ended June 30. – TradeArabia News Service