Al Salam Bank (Bahrain Bourse Trading Code “SALAM”, Dubai Financial Market Trading Code “SALAM_BAH”) reported net profit attributable to shareholders of BD 5.6 million (US$ 14.8 million) in the third quarter of 2021 compared to BD 1.0 million (US$ 2.6 million) in the third quarter of 2020, reflecting an increase of 472%. The increase in net profit was driven by higher returns from the Bank’s fixed income portfolio along with lower provision charges as compared to the previous period. Earnings per share stood at 2.4 fils (US$ cents 6.4) for the third quarter of 2021 compared to 0.4 fils (US$ cents 1.1) for the same period in 2020, reflecting an increase of 500%. Total operating income for the quarter stood at BD 27.6 million (US$ 73.2 million), a 15 % increase from theBD 24.1 million (US$ 63.9 million) recorded in Q3 2020.
Author Archives: Al Salam Bank
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In line with the Bank’s Human-centered Brand DNA and Future-Forward Vision Launched as a Collective Community-led effort across the Kingdom of Bahrain Al Salam Bank Unveils a Refreshed Logo
Oct
l Salam Bank recently unveiled a refreshed logo, in line with its new human-centered Brand DNA, which prides itself on an ethos of forming deep relationships with clients by curating tailored and personal financial solutions. The Bank took a bold step by engaging the public for the design process wherein starting from inception, the logo was a result of a collective local effort and created by a Bahraini graphic designer, Masooma Dhaif, who was selected as the finalist as part of a design challenge launched on Al Salam Bank’s Social Media in February earlier this year, which called upon artists, creatives, and professional designers across the Kingdom to take part in developing a new logo for the Bank.
Oct
Al Salam Bank successfully wrapped up the launch of its first community-led activation held under its Corporate Social Responsibility (CSR) platform, Al Salam Helping Hands. In collaboration with the local Bahraini artist, Abbas Al Mosawi, the Bank hosted several art pop-up events, which started with the Bank’s employees at the Brand DNA launch and was then extended to the public at the Avenues – Bahrain, on the weekend of the 15th of September, followed by City Centre Bahrain the following weekend ending with Seef Mall for the last weekend of September. On Sunday, October 17, Al Salam Bank unveiled a stunning mosaic in the form of a painting, curated by Abbas Al Mosawi, which brought together of all the individual artworks of the participants on the face of its headquarters.
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Al Salam Bank Commences Discussions With Ithmaar Holding for the Potential Acquisition of a Group of Assets
Oct
Al Salam Bank-Bahrain B.S.C. (“Al Salam Bank”) (Bahrain Bourse Trading Code “SALAM”, Dubai Financial Market Trading Code “SALAM_BAH”) has signed a memorandum of understanding and entered into discussions with Ithmaar Holding B.S.C. (“Ithmaar Holding”) (Bahrain Bourse and Dubai Financial Market Trading Code “ITHMR”), the parent of Ithmaar Bank B.S.C.(c), for the potential acquisition by Al Salam Bank of a group of assets from Ithmaar Holding’s group of companies.
Al Salam Bank recently held a graduation ceremony to celebrate the collective achievements of its first batch of employees that successfully completed the Bank’s Executive Capacity Building program, which was held in the presence of the Bank’s executive management and key delegates from the Bahrain Institute of Banking and Finance (BIBF). This step comes as part of the Bank’s ongoing commitment to develop Bahraini competencies under the umbrella of its newly launched DNA under the guiding principle “We Inspire Our People”. The final part of the Program was conducted aboard in London, United Kingdom, which comprised field visits to the London Stock Exchange, lectures at Bayes Business School, and executive training sessions led by Grant Thornton Global Accounting and Consulting.
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Al Salam Bank Launches a New Financing Campaign Rewarding Clients with a Chance to Win a “Tesla”
Sep
In line with the launch of the Bank’s new vision, Al Salam Bank announced the launch of its new financing campaign, which will provide clients with the opportunity to win a Tesla car when applying for financing between 19 September 2021 and 19 February 2022. Clients who apply for financing during the campaign period will also receive double their loyalty reward points. With a total of six chances to enter the draw deepening on the date of application, the earlier in the campaign period clients are booked for financing, the higher their chances of winning.
Sep
Al Salam Bank’s CSR platform, “Helping Hands”, aligns with the Bank’s new vision Collaboration with artist Abbas Al-Mosawi for the first CSR initiative “Helping Hands” The Bank will donate BD1 to the Royal Humanitarian Foundation for every participation Al Salam Bank announced the launch of its CSR platform “Helping Hands” and its collaboration with artist, […]
Sep
Al Salam Bank recently held an exclusive key-note event at the glittering Bahrain National Theatre, one of the largest theatres in the Arab world, which has emerged as an architectural landmark that embodies the artistic and cultural dynamism of the Kingdom. The event was held in celebration of the Bank’s newly launched Brand DNA, in the presence of the Bank’s Board of Directors and Executive Management, attended by the Bank’s employees, which were seated socially distanced as an added precautionary measure.
Sep
Al Salam Bank announced the launch of a new promotional campaign entitled “Back to School” for its “Al Salam Life Planning” account, which offers the ideal option to save for future education expenses, giving one winner the opportunity to win tuition fees for one year.
Aug
The campaign aims to reward parents using Al Salam credit and prepaid cards for payment of school fees 200 winners will receive 3% discount on school fees Al Salam Bank recently announced the launch of its second campaign exclusively dedicated to its credit card and prepaid cardholders. The campaign, which kicked off on the 26th […]