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Shareholders of BBK have approved cash dividend of 25 fils per share and stock dividend of 5 per cent per share equivalent to 5 shares for every 100 shares held, based on the positive financial results for 2022.
Also approved during the annual and extraordinary general meetings held yesterday at the Four Seasons Hotel Bahrain Bay was an additional exceptional one time cash dividend of 5 fils per share as part of the celebration of BBK’s 50th anniversary.
The bank achieved a net profit of BD64.4 million in 2022, 21.3pc higher than 2021.
The basic and diluted earnings per share reached 39 fils during 2022 compared to 32 fils during 2021.
Shareholders’ equity stood at BD596.3m at the end of 2022 compared to BD542.8m at the end of 2021.
The board of directors expressed its satisfaction with the financial results stating: “BBK’s strong performance during the year once again demonstrated the group’s ability to withstand challenging economic cycles as well as its commitment to achieve the targets outlined in the new 2022-24 strategy.”
Also, commenting on the results, BBK Group chief executive Dr AbdulRahman Saif stated: “The impressive results in 2022 highlight the efficacy of our forward-looking strategy, conservative approach to risk management, and diversified portfolio. The celebration of BBK’s 50th anniversary was a highlight of the year.”
The directors elected during the meeting are Murad Ali Murad, Mohamed Husain, Noor Al Jassim, Arif Rahimi, Tariq Al Saffar, Khalid Taqi and Khalid Al Shamsi.
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