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BBK has announced its financial results for the first quarter ended March 31, 2026.
The bank achieved a record net profit attributable to the owners of the bank of BD26.1 million compared to BD21.1m during the corresponding year, representing a growth of 23.7 per cent. The basic and diluted earnings per share amounted to 14 fils compared to 12 fils during the same period last year.
Total comprehensive loss attributable to the owners of the bank for the three months ended March 31, 2026 amounted to BD19m, compared to an income of BD15.4m for the same period of last year, due to the significant decrease in the valuation of investment securities, which was partially offset by the increase in net profit.
Total operating income increased by 24.6pc during the quarter, amounting to BD50.6m compared to BD40.6m in the corresponding year. This growth was primarily driven by an increase in both core and non-core revenue streams, reflecting the bank’s commitment to diversify income sources. Net interest and similar income increased by 10.8pc to BD31.8m (Q1 2025: BD28.7m).
This growth highlights the effectiveness of the bank’s asset and liability management strategies and the expansion of the net loans and advances portfolio.
In addition, net fees and commission registered a growth of 12pc amounting to BD5.6m compared to BD5m during the same period last year.
Investment and other income was higher by 91.3pc at BD13.2m (Q1 2025: BD6.9m), mainly due to an increase in the gain from sale of investment securities and other investment instruments. Furthermore, the share of profit from associates and joint ventures registered a growth of 25pc to BD0.5m compared to BD0.4m reported the same period last year.
The bank’s continuous investment in its strategic initiatives and human capital led to an increase in total operating expenses to BD20.8m compared to BD16.6m during the same period of last year, representing an increase of 25.3pc. Net provision requirements for the first quarter of the current year amounted to BD3.7m, compared to BD3.2m reported in the corresponding year, representing a 15.6pc increase.
Total shareholders’ equity attributable to the owners of the bank as of end-March 2026 stood at BD586m (December 31, 2025: BD657.5m), a reduction of 10.9pc, mainly due to the declaration of cash dividend during the first quarter of 2026 and unfavourable mark-to-market valuations of the investment securities.
Total assets as of end-March 2026 reached BD5,010.9m compared to BD4,974.3m as of end-December 2025, registering a marginal growth of 0.7pc. Treasury bills increased by 31pc to BD398.8m (December 31, 2025: BD304.4m) and investment securities increased by 1.8pc to BD1,212.3m (December 31, 2025: BD1,190.9m).
On the other hand, cash and balances with central banks decreased by 3.2pc to BD568m (December 31, 2025: BD586.6m), whilst net loans and advances decreased by 2pc to BD2,311.4m (December 31, 2025: BD2,358.5m). The bank continued to maintain a robust liquidity position that is mainly funded by customer deposits, which amounted to BD2,789.9m, a decrease of 2.2pc compared to BD2,853.5m as end-December 2025.
Commenting on the results, the board of directors said: “BBK has achieved remarkable results over the past year and in the first quarter of 2026, despite prevailing market challenges. This quarter marks a landmark achievement, delivering the highest net profit ever recorded in the Bank’s first-quarter history. This is a testament to the meaningful progress made in strengthening BBK’s financial position and diversifying income streams. Such an accomplishment reflects the successful execution of our strategic priorities, the agility of our operations, and the dedication of our people. We extend our appreciation to our customers for their trust, to our employees for their commitment, to our management for their vision, and to our shareholders for their continued support.
“Looking ahead, the Board remains assured of the bank’s ability to address future challenges, build upon its solid foundations, and deliver sustainable, long-term growth for all stakeholders.”
BBK’s group chief executive officer Yaser Alsharifi added: ““We remain steadfast in navigating an evolving economic landscape, while recognising the promising opportunities ahead. Our strategic direction reinforces confidence in the bank’s ability to generate consistent growth and deliver enduring value to all stakeholders. This commitment is reflected in reporting the highest first quarter net profit on record in the bank’s history.”
He added: “In line with our steadfast commitment to prioritize Environmental, Social and Governance (ESG) initiatives as a core pillar across the bank’s operations, BBK has launched a comprehensive suite of sustainable finance products. This strategic initiative underscores BBK’s leadership in delivering innovative financing solutions and reaffirms its commitment to embedding sustainability across all banking operations. By supporting the transition to a greener economy and promoting responsible financial practices, this initiative aligns with Bahrain’s national sustainability agenda and global ESG standards.”
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