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Al Salam Bank, a leading regional Islamic bank headquartered in Bahrain, posted a 7% rise in Q1 net profit attributable to shareholders to BD6.5 million ($17.3 million) compared to BD6.1 million for Q1 2021.
Al Salam Bank recently opened the first paperless branch in Bahrain, which provides automated banking services to clients.
Al Salam Bank’s $2.2 billion acquisition of Ithmaar Bank consumer banking division and a number of other assets is seen as a critical step in the bank’s growth journey and will result in a stronger industry positioning for Bahrain’s largest Islamic bank.