Khaleeji Bank Delivers 7.81% Q1 Profit Growth Amid Strategic Expansion

Khaleeji Bank B.S.C. has posted a 7.81% increase in net profit attributable to shareholders for the first quarter of 2025, underscoring the bank’s resilience and strategic focus within the Kingdom of Bahrain’s Islamic banking sector. The net profit reached BD 2.73 million, up from BD 2.53 million in the same period last year, reflecting the bank’s continued emphasis on digital innovation and customer-centric services.

The bank’s total income for Q1 2025 stood at BD 13.2 million, marking a 4.5% rise compared to BD 12.63 million in Q1 2024. This growth is attributed to increased revenues from financing contracts and deposits with financial institutions. Earnings per share improved to 2.7 fils, up from 2.5 fils in the previous year’s first quarter.

Total assets experienced a slight uptick, reaching BD 1.5 billion, while total deposits grew by 3.8% to BD 1.14 billion. Sukuk investments remained steady at BD 510 million, maintaining the bank’s diversified investment portfolio.

Chairman Hisham Ahmed Alrayes highlighted the bank’s strategic initiatives, stating, “Our Q1 performance reflects Khaleeji’s commitment to sustainable growth and innovation in Islamic banking. We continue to invest in digital platforms and customer-focused solutions to enhance our service offerings.”

The bank’s flagship digital platform, “Hafeez,” has seen increased adoption among corporate clients, offering streamlined banking services tailored to business needs. Additionally, the “Al Waffer” savings account program has attracted a growing customer base, incentivized by monthly cash prizes and competitive profit rates.

In line with its expansion strategy, Khaleeji Bank has entered into strategic partnerships with key industry players. Collaborations with entities such as Arcapita Group Holding and Al Areen Holding Company have facilitated the provision of flexible financing solutions to clients, reinforcing the bank’s position in the market.

CEO Sattam Sulaiman Algosaibi emphasized the bank’s forward-looking approach, noting, “We are focused on leveraging technology and strategic alliances to drive growth and deliver value to our stakeholders. Our performance in Q1 sets a positive tone for the remainder of the year.”

Khaleeji Bank’s commitment to social responsibility remains evident through its support of community initiatives, including educational programs and environmental sustainability projects. The bank’s active participation in local events underscores its dedication to contributing positively to society.