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 and diversity in sources of income.

Net income for the period amounted to $ 1.8m against $ 2m last time.

Net income for the second quarter was $ 150,000 compared to $ 1.1m in the second quarter of 2011.

Capital adequacy improved to 28 per cent at the end of June compared to 24.7pc at end-2011 and 23.3pc as at end-2010

"We are very pleased with the exceptional results of the bank and its capacity to consistently deliver an all-round performance amidst these challenging macro-economic conditions attests to its viability, depth, diversity and an ability to deliver in a stable and sustainable manner," said vice-chairman Shaikh Abdullah Al Sabah.

"It also reflects the success in implementation of the bank's new strategy," he added.

"These results once again bear evidence of the bank's inherent potential and reinforces our confidence of a promising future," he said.

Chief executive Akbar Habib said BMB's capability to consistently deliver performance with rather modest resources demonstrates the soundness of its multi-dimensional business model.

"If certain conditions are fulfilled, the bank has the potential to scale new heights in the foreseeable future," he added.