NFH Announces Record Net Profit of BD 1.27 million for 2016 & Declares Cash Dividends

National Finance House (NFH), the Bahraini incorporated finance provider, announced in its Annual General Meeting held on 26th February 2017, the distribution of a cash dividend of 8% of the Company's paid-up share capital, amounting to BD 600 thousand.


On this occasion, the Chairman of NFH, Mr. Farouk Almoayyed said, “I am delighted to report that NFH posted another strong financial performance in 2016, with net profit exceeding BD 1 million for the third consecutive year to reach BD 1.27 million, up by 7 per cent from BD 1.18 million the previous year”. Mr. Almoayyed added that “during 2016, total operating income grew to BD 3.36 million from BD 3.17 million the previous year, with basic earnings per share increasing to Bahraini fils 16.9 (2015: 15.8 fils). For the three months ended 31 December 2016, NFH reported a net profit of BD 298 thousand compared to BD 318 thousand for the same period of previous year. At the end of 2016, total assets increased to BD 51.23 million compared to BD 48.36 million in 2015, shareholders’ equity had risen to BD 13.93 million (2015: BD 13.19 million) and return on average equity has improved to 9.36% (2015: 9.21%)”.


Mr. Almoayyed said “Looking ahead, we expect 2017 to be another challenging year, marked by ongoing volatile economic and market conditions. Key concerns include oil prices and liquidity, uncertain global economic growth, and regional geo-political tensions. However, on a more positive note, the fiscal reforms and economic transformation measures being introduced by the Government of Bahrain will have a beneficial long-term impact on the diversity and sustainability of the national economy in an era of low oil prices”.