The banking and industry sectors fall on the Bahrain Stock Exchange...

The general index of the Bahrain Financial Market declined, at the end of the trading session on Sunday, at the beginning of the trading session on Sunday, by 0.06%, losing 0.92 points to close at 1426.25 points, and the trading volume reached 4.1 million shares with a value of 371.8 thousand Bahraini dinars. A decrease of 7.42% due to the pressure of Ithmaar Holding Company’s shares falling by 9.33%, Al Salam Bank Bahrain by 4.17%, Ahli United Bank by 0.13%, then the Industry sector by a decrease of 1.57% due to the pressure of Aluminum Bahrain Company falling by 0.26%, then the investment sector by a decrease of 0.82% % Under pressure, the share of GFH Financial Group fell by 1.35%.

The services sector increased by 10.31%, driven by the rise of Bahrain Cinema Company by 1.33%, Bahrain Telecommunications – Batelco by 0.96%, and the shares of Khaleeji Commercial Bank, Inovest, National Bank of Bahrain rose by 2.56%, 1.18%, 0.65%, Respectively.

In a related context, Bahrain Telecommunications Company-Batelco announced the effects of the outbreak of the Corona pandemic (Covid-19) on the financial implications of the group, most notably the decrease in mobile phone sales by 2.1 million Bahraini dinars on an annual basis, and the decrease in roaming service revenues by 8.3 million Bahraini dinars On an annual basis, and a subsidy from the Government of the Kingdom of Bahrain in the amount of BD 3.2 million for employee costs, and BD 0.2 million for utility services, and these amounts were settled against the relevant banks in the income statement for the period.

In another context, BBK announced the company’s board of directors meeting on Monday, October 26, in which a decision was taken to periodically review compliance and anti-money laundering policies and procedures, the bank’s branch network strategy, the follow-up report for information systems, and review some risk and human resources policies.