National Bank of Kuwait-Bahrain (NBK Bahrain), the subsidiary of NBK Group in Bahrain, reported net profits of $145 million for the year 2014 compared with $114 million in 2013, a growth of 27 per cent year-on-year.

As of end of 2014, NBK-Bahrain’s total assets increased by 36 per cent year-on-year (y-o-y) to $10.5 billion, while total shareholders’ equity increased 23 per cent y-o-y to $917 million. Customer deposits reached $5.2 billion, up 16 per cent y-o-y.

Shaikha Al-Bahar, NBK deputy group chief executive officer said: “NBK-Bahrain continues its solid performance despite the challenging operating environment. The Bank’s strong results affirm the success of NBK Group’s regional expansion strategy that is built on a culture of prudence and strict risk management practices.”

“We are successfully proceeding in strengthening our position as a leading regional bank,” Al-Bahar added. “NBK’s subsidiaries continue to deliver strong results contributing positively to the Group’s profitability and adding value to the growth in our business,” she added.

Ali Fardan, NBK-Bahrain general manager, said: “This strong performance reflects our conservative management as we have consistently focused on our core business and ways to diversify sources of income. We continue to grow our operations locally by developing new products to serve our customers benefiting from the support of NBK Group.”- TradeArabia News Service