NBB has demonstrated steady all-round business growth despite difficult financial market conditions. "Although 2008 represented one of the most difficult periods in global economic history, NBB continued to demonstrate sound asset quality and a well-diversified portfolio," chairman Abdulla Kanoo told shareholders at the bank's annual general meeting yesterday.
The bank declared a net profit of BD35 million ($92.8m) for the year, achieving a 15 per cent return on average equity, he said.
He highlighted that the bank's capital adequacy ratio remained healthy at 19.3pc, well above the minimum level of 12pc set by the Central Bank of Bahrain.
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