Manama: 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.
According to Bahrain News Agency, earnings per share stood 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.
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 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 the ongoing commitment to delivering returns to shareholders while maintaining a 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.
On the occasion, Hala Yateem, Chairperson of NBB, stated that 2025 began on a strong note, achieving the Group's highest-ever quarterly profit and an 8% growth in total assets since year-end. The results reflect NBB's ability to create value for shareholders and its commitment to supporting the Kingdom's economic development, embedding ESG principles, and investing in communities.
Usman Ahmed, Group Chief Executive Officer, highlighted that NBB reported an operating profit of BHD 34.3 million in the first quarter, 16% higher than the prior-year period. The balance sheet registered an 8% growth in total assets and a 3% increase in customer deposits from the year-end level, reflecting domestic growth and enhancement of product offerings, alongside regional expansion strategy progress. This first quarter follows two consecutive years of record profits, continuing the focus on delivering value for clients.