BMI 27 August 2007...  BMI recently announced the appointment of Andrew Bainbridge as the new Chief Executive Officer of the Bank. Andrew joins BMI from Barclays.

Speaking on behalf of the Board of Directors, Sheikh AbdulMalik bin Abdullah Al Khalili, Chairman of BMI said

“Andrew brings with him a wealth of experience having spent the last 18 years with Barclays across UK, Europe, Africa as well as the Middle East and we are delighted to welcome him to the bank. BMI is a dynamic bank having grown from strength to strength over the past few years and we are confident that Andrew, together with the team in place, will be able to lead us in our vision to provide high quality products and services to an even wider range of customers.”

In his previous role with Barclays, Andrew was the Chief Operating Officer for Emerging Markets following his role as Chief Operating Officer & Commercial Banking Director for Retail and Commercial Banking, New Markets, with responsibility for Commercial and Transactional Banking across the region, as well as Operations, Non-financial Risk and Corporate Affairs.

Speaking on his appointment as CEO, Andrew Bainbridge said

“I am delighted to be joining BMI at a time when we seek to accelerate our growth in innovative products and services offered to customers while building on the excellent growth the bank has achieved in recent years.”

Prior to 2007, Andrew was based in South Africa, as the Managing Director responsible for the Sub-Saharan Africa and the Indian Ocean business for Barclays. Prior to this Andrew was Chief Operating Officer and Risk Director across Africa and the Middle East and has previously held senior roles in Commercial Banking in the UK and Africa.

Andrew holds a degree in Law (LLB) and is an Associate of the Chartered Institute of Bankers. He also sits as a Non Executive Director on the Board of Guarantco, a donor-backed company that facilitates the issuance of local currency guarantees in underdeveloped countries to support business growth and the deepening of local capital markets.

BMI recently posted 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 in 2006 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