Bahrain Islamic Bank B S C : Publication – Financial Statements – 30 June 2023
August 01, 2023
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CONDENSED CONSOLIDATED INCOME STATEMENT
For the six months ended 30 June 2023
Six months ended
Three months ended
30 June
30 June
30 June
30 June
2023
2022
2023
2022
BD'000
BD'000
BD'000
BD'000
(reviewed)
(reviewed)
(reviewed)
(reviewed)
INCOME
Income from financing
24,687
23,689
12,710
11,120
Income from investment in Sukuk
7,275
6,230
3,807
2,962
Total income from jointly financed assets
31,962
29,919
16,517
14,082
Return on equity of investment accountholders
(8,561)
(12,382)
(3,560)
(5,708)
Group's share as Mudarib
8,031
10,810
3,976
4,867
Net return on equity of investment accountholders
(530)
(1,572)
416
(841)
Group's share of income from jointly financed
assets (both as mudarib and investor)
31,432
28,347
16,933
13,241
Expense on placements from financial institutions
(3,573)
(1,816)
(1,805)
(979)
Expense on placements from non-financial
(7,148)
(3,272)
(3,810)
(1,623)
institutions and individuals
Expense on financing from financial institutions
(2,677)
(462)
(1,483)
(282)
Fee and commission income, net
2,873
3,140
1,542
1,474
Income from investment securities
6
15
6
15
Income from investment in real estate, net
188
(708)
40
(112)
Share of results of associates, net
159
(8)
32
8
Other income, net
1,572
718
720
456
Total income
22,832
25,954
12,175
12,198
EXPENSES
Staff costs
6,329
6,703
3,196
3,254
Depreciation and amortization
898
827
456
415
Other expenses
6,248
5,590
3,397
2,829
Total expenses
13,475
13,120
7,049
6,498
Profit before impairment allowances and other
9,357
12,834
5,126
5,700
provisions
Impairment allowance and other provisions, net
(3,322)
(4,569)
(2,094)
(2,398)
PROFIT FOR THE PERIOD
6,035
8,265
3,032
3,302
BASIC AND DILUTED EARNINGS PER SHARE (fils)
3.92
6.04
1.07
1.33
CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN OWNERS' EQUITY
For the six months ended 30 June 2023
30 June
30 June
2023
2022
BD'000
BD'000
(reviewed)
(reviewed)
Balance at 1 January
135,751
125,760
Profit for the period
6,035
8,265
Zakah approved
(170)
(138)
Donations approved
(250)
(350)
Profit distribution on AT1Capital
(1,901)
(1,901)
Shares allocated to staff during the period
124
76
Net movement in investment securities fair value reserve
(30)
33
Net movement in real estate fair value reserve
-
(175)
Balance as at 30 June
139,559
131,570
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Disclaimer
Bahrain Islamic Bank BSC published this content on 02 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 August 2023 08:00:08 UTC.
Bahrain Islamic Bank BSC (BISB) is a Bahrain-based commercial bank involved in the provision of Islamic Sharia-complaint banking and financial services. The Bank offers its services through two divisions: Retail Banking and Corporate Banking. The Retail Banking offers financing products such as Tasheel, Auto and Property finance products; credit cards services; accounts services, such as current and savings, tejoori, iqra, vevo and investment deposit accounts, and e-Banking, among others. The Corporate banking segment offers real estate finance, structured finance, small and medium enterprises (SME) banking, financial institutions (FI) & government, treasury services, private banking, very important person (VIP) banking, trade finance, as well as other Islamic financial and investment policies. BISB offer its services through a network of 13 branches distributed across Bahrain with a total 48 automated teller machine (ATM) network.
BAHRAIN ISLAMIC BANK B.S.C. 
