Khaleeji Commercial Bank Announces a 37.0% Year-on-Year Increase in Net Profit for 3Q 2021

Bahrain’s Khaleeji Commercial Bank (KHCB) reported a net profit of BHD 2.8 million (USD 7.4 million) for the third quarter of 2021 (3Q 2021), an increase of 37.0% over the net profit for the same period last year (3Q 2020).

Why it Matters?

The growth in net profit has mainly been due to the increase in the total income of the bank before return to investment account holders which, amounted to BHD 12.7 million (USD 33.8 million) in 3Q 2021 in comparison to BHD 11.5 million (USD 30.6 million) in 3Q 2020. Jassim Alseddiqi, Chairman of KHCB said that the bank was able to achieve the favourable outcome by continuing its implementation of effective strategic plans, resulting in enhanced overall performance.

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