The Bahrain based leading Islamic banking multinational, Al Baraka Banking Group B.S.C (ABG), reported a significant improvement in its profitability indicators during the second quarter of 2017 with net operating income increasing by 17% and net income by 19% compared to the first quarter of 2017.

ABG’s assets were up 5%, financing and"...

At the same time, the national scale ratings have been reaffirmed at ‘AA(tr) / A1+(tr)’ (Double A / A One Plus) with a ‘Stable’ outlook. The ratings on KTPB continue to reflect its overall sound risk profile coupled with strong institutional support. While relative weakness in asset quality indicators is noted since our last review, these continue to compare favourably vis-à-vis the overall industry and the participation banking sector. IIRA’s assessment on KTPB encompasses sponsor support"...