Bahrain National Holding Company “BNH: BNH” announced its financial results for the fourth semester and the fiscal year ending on December 31, 2024. The group achieved a net profit return to the company’s shareholders of 1.08 million Bahraini dinars in the fourth chapter, compared to a net profit of 1.48 million dinars Bahraini during the similar period of the previous year, a decrease of 27 %. The stock profit for the fourth quarter reached 9 fils compared to 12 fils during the same period in 2023. The total comprehensive income returning to shareholders for the fourth quarter ended on December 31, 2024 is 0.39 million Bahraini dinars, compared to 1.27 million Bahraini dinars during the same period in 2023 That is, a decrease of 69%.
As for the results of the fiscal year ending on December 31, 2024, the group achieved a net profit return to the company’s shareholders of 5.16 million Bahraini dinars, compared to 6.93 million Bahraini dinars during the past year, a decrease of 25 %. The share profitability for the fiscal year reached 43 fils compared to 58 fils for the year 2023. The total comprehensive income belonging to the shareholders for the year ended on December 31, 2024 to 5.94 million Bahraini dinars, compared to 8.12 million Bahraini dinars during the past year of 2023, a decrease of 27 %.
The decrease in the net profit in the first place is due to the decrease in the results of insurance services, driven by an exceptional and non -frequent natural event in addition to increasing the costs of claims to the group insurance companies.
The total number of shareholders ’rights increased“ after the exclusion of minority rights ”at the end of the year 2024 to 72.12 million Bahraini dinars, compared to 70.05 million Bahraini dinars, as at the end of the previous year, an increase of 3 %. The total assets increased to 111.92 million BD, compared to 111.02 million Bahraini dinars at the end of last year.
Given the strong performance in 2024, and after taking into account the future requirements of Bahrain National Holding Company, the Board of Directors recommended distributing annual cash profits of 35 %, equivalent to 35 fils per share, a total of 4.17 million Bahraini dinars, compared to 35 %, which is equivalent 35 fils per share for 2023 a total of 4.17 million Bahraini dinars, subject to the approval of the company’s shareholders at a meeting The annual general assembly.
“Despite the competitive market, Bahrain National Holding Company succeeded in passing the year 2024 through the active management of the investment governor to enhance public performance, preserve the total value and achieve continuous total returns for shareholders, and this indicates Group investment portfolio flexibility. With the frequency of the main strategic portfolio initiatives until 2025, the company is in a good position for continuous growth. We are optimistic about the future and we continue to adhere to our long -term investment philosophy. “
In turn, the CEO of Bahrain National Holding Company, Raed Fakhry, said: “The year 2024 was full of unprecedented achievements, supported by our active approach in the portfolio management. Capital management effectively and achieving returns for shareholders is from our maximum priority. The public budget of Bahrain remains. Patriot Holding is strong with our assets and property rights increased year after year and our asset portfolio continues to grow And achieving good performance. ”
He added: “Our insurance companies, which are one of the largest components of our portfolio, have shown significant growth in revenues and high flexibility in the face of increasing claims. The performance of other companies in the wallet, including UIC, NFH and Al -Kindi Hospital, has improved in profitability. In front of the independent, the company continues to take Great steps to implement our strategic and designed initiatives to enhance the value of shareholders and for future growth. “
