National Bank of Bahrain B.S.C. (NBB) has reported a 2% year-on-year increase in net profit attributable to shareholders reaching BHD 28.1 million (USD 74.5 million) for the first quarter ended 31 March 2025, compared to BHD 27.5 million (USD 72.9 million) in the same period of 2024. The increase was driven by higher operating income supported by stable operating expenses.
Earnings per share at 12 fils (USD 3 cents) for the first quarter of 2025, remaining consistent with the same period last year.
Total comprehensive income attributable to NBB’s shareholders for the quarter decreased by 36% to BHD 20.4 million (USD 54.1 million) compared to BHD 32.0 million (USD 84.9 million) in 2024. The decrease is mainly attributable to the mark-to-market movements of the bond and equity portfolios.
Balance sheet
The Group’s total equity attributable to shareholders decreased by 7% to BHD 545.0 million (USD 1,445.6 million) as of 31 March 2025, compared to BHD 583.8 million (USD 1,548.6 million) as of 31 December 2024. This change reflects the proactive distribution of value to our shareholders, following the approval and declaration of BHD 56.4 million in year-end cash dividends for 2024 at the Annual General Meeting held during the first quarter. The movement in equity was expected and underscores our ongoing commitment to delivering strong returns to our shareholders while maintaining a robust capital position.
The Group’s total assets increased by 8% during the period to BHD 5,942.4 million (USD 15,762.3 million) compared to BHD 5,522.2 million (USD 14,647.8 million) recorded on 31 December 2024.
Commentary
On the occasion, Mrs. Hala Yateem, Chairperson of NBB commented, “We have started 2025 on a strong footing, achieving the Group’s highest-ever quarterly profit at BHD 28.1 million—a 2% increase compared to the same period last year. Total assets also reached a new milestone exceeding BHD 5.9 billion, reflecting robust 8% growth since year-end. Supported by an average return on equity of 19.6%, these results reflect NBB’s ability to consistently create value for shareholders. We remain steadfast in our commitment to supporting the Kingdom’s broader economic development, embedding ESG principles across our operations and investing meaningfully in our communities.”
Usman Ahmed, Group Chief Executive Officer, added, “NBB reported an operating profit of BHD 34.3 million in the first quarter—16% higher than the prior-year period. Our balance sheet remains strong and has registered an 8% growth in total assets and a 3% increase in customer deposits from the year-end level. This performance reflects our domestic growth and our continued enhancement of our product offerings, in addition to the progress of our regional expansion strategy. This record-setting first quarter follows two consecutive years of record profits and reflects our continued focus on delivering value for our clients.”
We would like to inform our shareholders that the reviewed condensed consolidated interim financial statements along with the press release, are available on the Bahrain Bourse website.
