The National Bank of Bahrain announced a 19% decrease in the net profit that returns to shareholders, to reach 16.2 million Bahraini dinars (43.0 million US dollars) during the last quarter ending on December 31, 2024, compared to 20.1 million Bahraini dinars (53.3 million US dollars) for the period The same in the year 2023.
This decrease is partly due to the calculation of the transactions that contributed to the financial performance of the year in the previous quarters, which affected the quarterly comparison on an annual basis. The group continued to maintain a strong public budget in the fourth quarter, with total assets exceeding 5.5 billion Bahraini dinars (14.6 billion US dollars) continuously.
The profitability of one arrow also decreased to 7 fils (2 American cents) for the fourth quarter of 2024 compared to 9 fils (2 American cents) for the same period of 2023.
While the total comprehensive income returning to the shareholders of the National Bank of Bahrain during the last quarter of the year 2024 increased by 70% to 19.6 million Bahraini dinars (52.0 million US dollars), compared to 11.5 million Bahraini dinars (30.5 million US dollars) in the same period in 2023 This height is mainly attributed to the movements of the market value of the portfolios and stocks.
From the beginning of the year until today
The National Bank of Bahrain announced 4% growth in its net profits of shareholders to reach 81.9 million Bahraini dinars (217.3 million US dollars) for the year ending December 31, 2024, compared to 79.1 million Bahraini dinars (209.8 million US dollars) in 2023. This increase is mainly attributed to the rise in the net benefits resulting from 19% growth in customer financing, and an increase The profits of investment securities and treasury activities.
It is noteworthy that the profitability of one share for the year 2024 increased to 36 fils (10 American cents) compared to 35 fils (9 American cents) in the year 2023.
Likewise, the total comprehensive income returning to the shareholders of the National Bank of Bahrain in 2024 increased by 22% to 91.0 million Bahraini dinars (241.4 million US dollars), compared to 74.8 million Bahraini dinars (198.4 million US dollars) in 2023. This rise dates back to For the movements of the market value of the governor of bonds and stocks.
Public budget
The total shareholders ’rights in the group amounted to 583.8 million Bahraini dinars (1,548.6 million US dollars) as it is on December 31, 2024, compared to 565.0 million Bahraini dinars (1,498.7 million US dollars) as it is on December 31, 2023.
The total assets of the group increased by 3% during the year to reach 5,522.2 million Bahraini dinars (14,647.8 million US dollars) compared to 5,372.5 million Bahraini dinars (14,250.7 million US dollars) as on December 31, 2023, which resulted mainly from the remarkable growth in the loans. And the predecessors of 19% from December 31, 2023.
Profits
Following the strong financial performance of the group, the Board of Directors proposed distributing cash dividends worth 79.2 million Bahraini dinars, or equivalent to 35% per share or 35 fils, including semi -annual profits of 10% that were announced during the month of August of the year 2024. The allocations for the approvals of the regulators and shareholders in the annual meeting.
Comments
On this occasion, Ms. Hala Yatim, Chairman of the National Bank of Bahrain, stated: “The year 2024 was fruitful for the National Bank of Bahrain Group, where the net profit returned to shareholders reached 81.9 million Bahraini dinars, which constitutes an increase of 4% over 2023.
While the rate of return on the average shareholders ’rights reached 14.3%, which confirms our commitment to providing a fixed value to our valued shareholders. We intend to move within our tireless endeavors towards strengthening our position as a leading financial institution in the banking sector, while continuing to adopt initiatives that rise and support economic growth in the long run, in the Kingdom of Bahrain and among the countries of the region as a whole.
We also look forward to continuing to invest in our institutional strengths, keeping pace with the market trends, in addition to creating new opportunities that are in favor of achieving sustainable progress. “
For his part, Mr. Othman Ahmed, CEO of the National Bank of Bahrain Group, said: “The group’s growth path – throughout the year 2024 – reflects the confidence of our valued customers in: the Kingdom of Bahrain, the United Arab Emirates, and the Kingdom of Saudi Arabia, where the National Bank of Bahrain achieved profits Operating with a value of 90.5 million Bahraini dinars, which was driven by the increase in loans and customer deposits of 19% and 7%, respectively.
During the year, we continued to invest and innovate to provide advanced digital solutions such as: Yalla Family Account, and NBB Go service for points of sale.
Our future strategy revolves around meeting the growing needs of our vast and varied customer base, focusing on strengthening the sustainability agenda, ensuring that the shareholders are given long -term value. “
The National Bank of Bahrain notes the shareholders that the authentic annual financial statements and the press news are available on the website of the Bahrain Stock Exchange.
The shares of the National Bank of Bahrain are traded on the Bahrain Stock Exchange under the trading code: NBB.
