Dubai: Ithmaar Holding, a Bahrain-based financial institution, and its subsidiary, Ithmaar Bank, each announced their financial results for the first half of 2018 on Tuesday, with both reporting profits for the period.

Ithmaar Holding reported a net profit of $10.82 million for the six-month period ended June 30, 2018, compared to a net loss of $1.59 million for the same period in 2017.

Net profit attributable to equity holders for the six-month period was $4.85 million, as compared to the $9.25 million net loss reported in 2017.