MANAMA: National Bank of Bahrain (NBB) yesterday announced strong financial results for the first quarter of 2018 reporting a 33.9 per cent rise in net profit to BD19.74 million ($52.5m) compared with BD14.74m ($39.2m) for the corresponding period of last year.
Bank chairman Farouk Almoayyed said the improved performance during the quarter was supported by higher net interest income linked to growth in loans and advances coupled with better asset liability management resulting in a strong improvement in the net interest margin.
Provisions were also significantly lower than in the corresponding period last year, further contributing to the overall rise in net profits,” he said.
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