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KHCB WINS THE AWARD ‘THE FASTEST GROWING BANK IN BAHRAIN’


KHCB WINS THE AWARD ‘THE FASTEST GROWING BANK IN BAHRAIN’



Manama, Kingdom of Bahrain, 18 May 2016: Khaleeji Commercial Bank (KHCB), one of the leading Islamic banks in Kingdom of Bahrain, received the award "the fastest growing bank in Bahrain" granted by CPI Financial Banker Middle East and Africa, which is one of the largest institutions specialised in the financial news and analysis in the region. Mr. Khalil Ismail Al Meer, in his capacity as Bank's CEO, received the award on behalf of KHCB, in the annual awards ceremony organized by the Institution in Dubai.

This award was granted to the bank due to the strong financial results and the deeply-rooted growth achieved by the bank during the last period including the net income, liabilities, revenues, return on equity and return on assets. The financial results achieved by the bank have been compared with the counterparts thereof declared by the other banks within the Kingdom.

Mr. Al Meer, stated upon receiving the award: "This award is the result of our customers' trust on the leading and innovative services rendered by the bank. For such reason, I want to take this opportunity to extend my thanks and gratitude to them, because this achievement would not have been made without their kind support for us. Moreover, I would like to seize this opportunity to thank the staff, who work tirelessly and relentlessly in order to secure the best services and provide bank services with highest quality for the customers of the bank."

He added, "During the last period, we have focused our efforts on developing the services and products that meet the needs of our customers by launching series of the initiatives that add distinguished experience to our clients. The bank often seeks to provide a better level of customer services and this award reflects our commitment in this regard."

KHCB… Strong end for 2015 and promising beginning in 2016:
This prestigious award has been granted to the bank after declaring its results for the first quarter of financial year 2016, as the bank has achieved
net profit, attributable to the owners of the bank, of BD 2,85 million with a growth of 70.7%, compared to the net profit of BD 1,67 million for the same period in 2015. The bank is continuously expanding its business to reach the gross assets of BD 672,3 million a growth of 2.8%, compared to the same period last year. Additionally, the gross fixed deposits from the clients have increased by 1.7% to reach BD 493,6 million. The financing assets has also shown a tremendous increase by 5.8% to reach BD 410,1 million. With these results, the bank has maintained its profit ratio and strong financial positions with a liquid assets ratio reaching to an excess of 21.9% with a capital adequacy ratio of 17.8%.

It’s worth noting that KHCB began the year 2016 with declaring the excellent financial results for the financial year ended on 31st December 2015. The bank revealed that it has achieved net profits attributable to the owners of the bank of BD 7 million compared to BD 3.1 million achieved in 2014; that’s with increase in an amount of 126.7%. Thereafter, the bank declared opening its eleventh branch in Juffair Mall within context of the bank's expansion plan to be close to its customers. The success achieved by the bank during the last period assisted in nominating its CEO Mr. Khalil Ismail Al Meer among the best four CEOs in Arabian Gulf Region and the first CEO at level of Kingdom of Bahrain during the Best CEOs Awards Ceremony in Arabian Gulf Region for 2016 that has been held recently in Dubai Emirate, UAE.