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FINANCIAL NEWS
Bahraini BCFC net profit hits USD38.5m
18 Feb 2015
(MENAFN) Bahrain Commercial Facilities Company (BCFC) registered 11 percent net profit increase hitting USD38.5 million in 2014 compared with USD34.51 million in 2013, Gulf Daily News reported.
In the fourth quarter of 2014, profit was USD8.69 million compared to USD9.22 million year-on-year. According to the firm’s chairman, profits in 2014 were the highest in the company’s history.
Bahrain Credit, the company’s consumer finance business, reached a net profit of USD25.82 million compared to an earlier USD23.7 million and rendered loans estimated at USD303 million as against earlier loans of USD260.86 million.
‘These results manifest the faithful adherence to our core values, the successful execution of strategic plan initiatives and the hard work of our dedicated employees,’ chairman added in a statement.
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