BMI 05 August 2007...  BMI today announced a net profit of BD 2.26 million (USD 5.99 million) for the first half ended 30 June 2007, an increase of 21% as compared to the corresponding period last year when the Bank recorded a net profit of BD 1.9 million (USD 4.9 million). Loans and Advances stood at BD 321 million (USD 853 million) as compared to BD 204 million (USD 541 million) at 30 June 2006.

Speaking on the Bank’s performance, Abbas Al Derazi, General Manager of BMI said:

“BMI was set up with a clear purpose; to provide our customers with a range of innovative products and services while delivering a profitable, sustainable and consistently growing performance. I am pleased that we have been consistently delivering on this as demonstrated by our recent 21% increase in profit as compared to June 2006. The ongoing enhancement and expansion of our ATM network within the country as well as the imminent launch of our e-channels bouquet will serve to bring us closer to our customers in the second half of the year. We will continue to invest, as planned, in our brand, infrastructure and people, to create value for our stakeholders and I take this opportunity to thank our shareholders, customers and staff for their continued commitment and support.”

Total assets stood at BD 415 million (USD 1.1 billion) and rose by 40% over the BD 296 million (USD 785 million) recorded at the end of June 2006. Return on Equity (ROE) stood at 14% while Earnings Per Share (EPS) was 0.208 fils (0.55 cents)

BMI posted a net profit of BD 1.28 million (USD 3.4 million) for the first quarter ended 31 March 2007, an increase of 44% as compared to the corresponding period last year when the Bank recorded a net profit of BD 0.89 million (USD 2.4 million). BMI currently offers its customers a range of retail products and services including SME Banking, Mortgage, Consumer and Vehicle Loans, Credit cards, savings and current accounts. In addition to Retail Banking, BMI offers Corporate Banking, Private Banking, Islamic Financial Services, Global Trade Services, Financial Institutions & Correspondent Banking and Treasury Services.