Tag Archives: Akbar Habib

Business News Bahrain Middle East Bank repays $13 million debt

MANAMA: Bahrain Middle East Bank (BMB) yesterday announced the full repayment of a $13 million debt obligation - including interest of $1.4m. The loan was originally obtained by the bank during 2003/2004 and later rescheduled by the present management as part of its restructuring process in 2010/2011. The repayment takes total aggregate creditor obligations honoured - post restructuring - to a staggering $43m. "We are very pleased to have been able to successfully honour all creditor obligations, Read more [...]

Business News Bahrain Middle East Bank repays $13 million debt

MANAMA: Bahrain Middle East Bank (BMB) yesterday announced the full repayment of a $13 million debt obligation - including interest of $1.4m. The loan was originally obtained by the bank during 2003/2004 and later rescheduled by the present management as part of its restructuring process in 2010/2011. The repayment takes total aggregate creditor obligations honoured - post restructuring - to a staggering $43m. "We are very pleased to have been able to successfully honour all creditor obligations, Read more [...]

Bahrain Middle East Bank clears $17 million debt

MANAMA: Bahrain Middle East Bank has announced the full repayment of a $17.4 million legacy debt obligation - together with interest - as inherited by the present management who took charge of the institution's affairs in early 2009 "The bank's journey of restructuring has been painstaking and one carried out amidst the most challenging environment and one that has witnessed a global financial meltdown, and European debt crises and other challenges," said chief executive Akbar Habib. "Notwithstanding, Read more [...]

Bahrain Middle East Bank total income edges higher

MANAMA: Bahrain Middle East Bank saw total income edge ahead in the first half of this year, up from $6 million in the first six months of 2011 to $6.1m this time. The results marked the 10th consecutive quarter of consistent net positive earnings for the bank, demonstrating the consistency and stability in its performance following a rigorous restructuring effort undertaken in 2009 and the successful roll-out of its multi-dimensional business model that features viability, sustainability, scalability Read more [...]