Al Salam Bank Records USD 56.7 Million in Net Profit, Attributable to Shareholders in 2021

Al Salam Bank Records USD 56.7 Million in Net Profit, Attributable to Shareholders in 2021

https://islamicmarkets.com/articles/al-salam-bank-records-usd-56-7-million-in-net-profit
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Al Salam Bank (Al Salam) has recorded BHD 21.4 million (USD 56.7 million) in net profit attributable to shareholders in 2021, representing a growth of 134% from 2020 when earnings stood at BHD 9.1 million (USD 24.2 million), as reported in a press release dated 13th of February 2022.

Why it Matters?

The recorded increase comes on the back of higher returns from Al Salam’s core business activities in comparison to 2020. Shaikh Khalid bin Mustahail Al Mashani, Al Salam Chairman, attributed the performance to the successful implementation of growth initiatives as well as organic growth and optimisation across all verticals that led to the continued upward trajectory of the bank’s core banking book. The bank, adopting a forward-looking approach i...