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MENAFN - Bahrain Tribune - 13/10/2008

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(MENAFN - Bahrain Tribune) National Bank of Bahrain (NBB), which announced the increase in its paid-up capital from BD 78 million to BD 91 million, is one of the most competitive and strong institutions in the region with a sound liquidity position.

The bank with a 98 per cent loan portfolio within the GCC is safe and not affected by the global economic turmoil, a senior NBB official said.

NBB chief executive officer Abdul Razak Hassan Al Qassimi, on the sidelines of the special general assembly held at bank premises, said the bank's had taken all precautionary measures to minimise the impact of the global financial crisis.

Shareholders insisted that the time was not right for an increase in capital as there was no liquidity in the market and how the shareholders would be able to enhance their respective portfolios. The board agreed to implement the move increase in capital by year end.

 






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