BMI today announced that it had increased its total equity (share capital and reserves) to BD 133.5 million (USD 352 million), an increase of 247% from the BD 38.5 million (USD 102 million) as at 31st December 2007. The increase is a result of a fresh injection of BD 95 million (USD 250 million) from the existing shareholders who reinforced their confidence and commitment to the long term strategy of the Bank. The fresh equity will be used to fund the banks organic growth and provide necessary capital to expand into other regions and markets in line with the strategy

Speaking on the increase, Andrew Bainbridge, Chief Executive Officer of BMI said:

"I am delighted by this financial commitment by our shareholders to our continued growth and to the strategy of BMI. The increased financial strength that this gives BMI enables us to do more for our customers as we seek to support them in their own growth plans. Our ambition remains that of providing great service to our customers and being their first choice partner in financial services."