Bahrain National Holding Company (BNH) Group achieved a net profit attributable to the shareholders of BD0.32 million for the first quarter ended March 31, 2025, compared to BD1.59m for the first quarter of the previous year, a decrease of 80 per cent.
Earnings per share for the first quarter were 3 fils compared to 13 fils for the first quarter of the previous year.
The group reported a total comprehensive loss attributable to the shareholders of BD0.69m for the first quarter ended March 31, 2025, compared to a total comprehensive income of BD3.58m for the first quarter of last year.
The group’s insurance subsidiaries observed a decline of 115pc in their combined insurance service results, with this being the main contributor to the decrease in the net profitability for the first quarter compared to the similar quarter of the previous year, which was primarily due to lower insurance revenue.
This decline was partially offset by the group’s investment returns of BD0.89m for the first quarter ended March 31, 2025, compared to BD1.27m for the first quarter of the previous year, representing a decrease of 31pc.
The total shareholders’ equity as at the end of first quarter of 2025 decreased to BD67.28m compared to BD72.12m as at the end of 2024, representing a minor decrease of 7pc due to BNH shareholder dividends payouts.
The total assets increased by 8pc to BD120m compared to BD111.92m at the end of 2024.
Abdulhussain Khalil Dewani, chairman of BNH, commented: “The first quarter of 2025 marks a new chapter for Bahrain National Holding as we continue to reshape our strategic direction following the divestment of our insurance business. This transition reinforces our commitment to unlocking long-term value for our shareholders and exploring new avenues of growth. We are confident that our strong financial foundation and forward-looking vision will guide us towards sustainable success in this next phase.”
Raed Abdulla Fakhri, group chief executive of BNH, stated: “BNH’s transformation journey continues to gain strong momentum, underscored by the completion of the sale of our insurance subsidiaries. I remain confident and optimistic about the company’s outlook in the coming quarters. Our strategic focus now turns to diversification and the deployment of capital into investments that are aligned with our long-term objectives of generating sustainable value for our stakeholders.”
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