10 November 2009
Venture Capital Bank Hits US$ 9.3 Million Net Profit in 9 Months
Venture Capital Bank (VCBank) announced positive total net profits for the third quarter at US$ 2.1 million, compared to US$ 7.5 for the same period last year. The total net profit for the period was US$ 9.3 million for the 9 months ending on 30th September 2009 compared to US$ 38.9 million for the same period in last year with total income for the period amounting to US$ 22 million while US$ 60 million were reported for the same period of last year. These results were announced following VCBank’s Board Meeting held in its headquarters in Manama to endorse the financial result of the third quarter of current year.
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12 August 2009
Venture Capital Bank reports USD 9.7 million net profit in the second quarter of 2009
Venture Capital Bank (VCBank) posted positive financial results in the second quarter of this year despite the global financial crisis that have swept the world and regional economies. The Bank reported a net profit of USD 9.7 million for the second quarter of 2009, compared to USD 17.5 million for the same period last year, bringing the total net profit for the first six months of the year 2009 to USD 7.1 million. The Banks' assets increased by 2.9% compared to the end of 2008, while its capital adequacy ratio reached 48%.
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12 July 2009
Jordan Al Abyad Fertilizers and Chemicals Company (JAFCCO) Receives USD 45 Million Financing Facility to Establish an Industrial Complex to Manufacture Fertilizers and Industrial Chemicals
Jordan Al Abyad Fertilizers and Chemicals Company (JAFCCO) finalized a USD 45 million financing loan through a syndicate facility lead by Jordan Ahli Bank. The financing facility will be utilized to expand and diversify the production of fertilizers and chemicals and their high value derivatives with the aim to provide products that are increasingly in demand, which will be sold locally and internationally.
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