Futurebank’s Total Assets stood at a healthy BD 527.4
million (31 December 2009 – BD 547.5 million) and Total
Equity increased by 10.8% to BD 81.7 million (31 December
2009 – BD73.7 million). The bank recorded an overall growth
in its customer deposits during the 1st quarter of 2010.
Consequently bank’s total customer deposits base stood at BD
127.6 million showing a healthy increase of 17.4% over the
last three months period. The bank’s Net Operating Income
increased by BD0.98 million and stood at BD3.58 million on
31 March 2010. This includes a BD 202,000 provision for loan
losses.
“Futurebank will continue to focus on driving forward its
regional expansion strategy and will continue with its
prudent investment policy,” added Dr. Seif. “With a healthy
Capital Adequacy ratio of 23.7%, as compared to the 12%
regulatory requirement, the bank is in good stead to improve
upon our 2009 performance.”
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