Bahrain Development Bank (BDB), the leading bank in supporting small and medium enterprises (SMEs) in the kingdom, has announced its financial results for the fourth quarter of 2024.
The bank recorded a notable 21 per cent increase in net profits, rising from BD537,000 in 2023 to BD650,000 in 2024.
This strong performance demonstrates the success of BDB’s strategic endeavours in strengthening the SME ecosystem and contributing to national economic development.
Reporting an 18pc increase in Islamic financing income and profits, BDB reached BD9.908 million in 2024 compared to BD8.397m in 2023. Rental revenues also saw an 8pc rise from BD630,000 in 2023 to BD683,000 in 2024.
Meanwhile, the bank’s total operating income grew by 7pc to BD9.654m in 2024, up from BD9.022m in the previous year to reflect a continuous improvement in its financial performance.
Commenting on the occasion, Dalal Al Qais, group chief executive officer of BDB, stated: “We are pleased to achieve a remarkable increase in net profits, highlighting our unwavering focus on delivering innovative financial solutions that empower SMEs to enhance financial sustainability.
“These results would not have been possible without the visionary leadership of our Board of Directors and the tireless dedication of the BDB team who have played a pivotal role in attaining this outstanding growth.”
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