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April 7, 2016
BBK (Bank of Bahrain and Kuwait) recently promoted Reyadh Yousif Sater, the deputy chief executive of the bank's business group, to serve as BBK's new chief executive. Sater is taking over for Karim Bucheery, who has retired from the chief executive position after eight years. "I would like to convey my deep appreciation to the board for the trust they place in me," Sater said.
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BBK's Board of Directors released their financial results of the nine month period ending Sept. 30. The results showed a net profit of $40.3 million, an increase of 8 percent over last year's $37.3 million over the same period. The growth in net profits was primarily derived by fees and commission income, and by the end of the third quarter, it increased its provisions reserve.
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