“We are pleased to announce that since the acquisition of the Bank by Al Salam Bank-Bahrain, the Bank has made remarkable progress in terms of business growth, launch of new products, internet banking platform, expansion of its branch and ATM network,” said Dr Anwar Al Sadah, Chairman of the bank.
“In 2010, the bank expanded its branch network from 6 to 9 by opening 4 new branches and closing 1, and also expanded its ATM network from 12 to 18.”
He added that the bank’s strategy to focus on growing its market share in the retail, SME and corporate banking sectors in the Kingdom of Bahrain is picking momentum as demonstrated by the 2011 first quarter results.
“The Bank embarked on implementing steps towards conversion into Shari’a compliant institution as approved by the Bank shareholders in October 2009. To date, about 72% of Bahraini Saudi’s assets and 96% of its liabilities represent Shari’a compliant transactions.