By Esraa Mohammed

Mubasher: Earnings generated by Bahraini banks during the first half of 2015 reached BHD 196.4 million ($516.6 million), a rise of 11.3% compared with BHD 176.4 million ($464.1 million) in the same period of 2014.

The second-quarter combined earnings increased 15.4% year-on-year from BHD 85 million to BHD 98.1 million.

Meanwhile, banks’ total deposits declined 20.6% to BHD 9.3 billion, compared with BHD 11.8 billion a year earlier.

Ahli United Bank (AUB) dominated 58% of H1 combined earnings, as it recorded BHD 113.8 million in the six-month period, compared with BHD 108.2 million in H1-14.

The lender said in a bourse statement that it recorded one-off gains of $78 million from selling a property in London, which will reflect on Q3-15 financial results.

National Bank of Bahrain came second with BHD 29.6 million net income, compared with BHD 28.7 million in the corresponding period of 2014.

Bank of Bahrain and Kuwait took the third rank with BHD 29.4 million net profits, compared with BHD 27.3 million a year earlier.

The fourth position was taken by Al-Salam Bahrain whose bottom line increased from BHD 8.3 million to BHD 9 million.

Bahrain Islamic Bank’s earnings grew from BHD 1.5 million to BHD 5.1 million, and those of Ithmar Bank soared 635% y-o-y from BHD 665,100 to BHD 4.8 million.

Khaleeji Commercial Bank tailed the list with BHD 4.4 million earnings, compared with BHD 1.5 million in H1-14.

AUB also led in terms of second-quarter earnings which reached BHD 52.7 million, with a rise of 4.6% over BHD 50.4 million a year earlier.

Khaleeji recorded the biggest growth percentage of 157% to BHD 2.7 million.

Translated by Abdul Maguid Aboshahla