English - BMI Bank

More documents

Recommendations

Info

Chairman’s report MANAGING RISKS AND INTERNAL CONTROLS At the core of running our business well is our ability to maintain a firm control on all parts of our business. The level of control we exercise over our business continues to improve across many aspects, including credit, operational and market risk. Control is a critical key to our success and we have invested in our risk management people and systems to support the business to build a strong, customerfocused business. Building on the foundations laid during the previous years, we are pleased to reaffirm that our internal controls remain robust. During 2011, we started working on an exercise to implement a new operational risk solution that is expected to roll out during 2012. This sophisticated tool will assist us in further enhancing our existing operational risk framework. A very strong Issue Assurance Program to test the quality of audit findings implementations as well as the snap check framework in place to ensure critical controls within processes are effective at all times are important components of our internal control framework. Constant improvement in our risk management culture as well as in our processes and systems remains a critical objective. The Bank will continue to work on constant improvements in its risk management on all fronts. LOOKING FORWARD BMI Bank has, over the past few years transformed itself into a vibrant, dynamic and customer-centric brand enjoying a solid reputation amongst both customers as well as within the banking community. Equipped with a stable and growing business along with a refreshed strategy that was approved by the Board, we embark into 2012 with confidence. We will continue with our earnings momentum which will come from our many growth and productivity initiatives that are currently underway across all business lines. We will also continue to focus on our core strategy of developing a stronger retail and commercial banking business within Bahrain, which will provide our customers with innovative, valuable and competitive financial solutions that exceed their expectations. We will strengthen our links with our shareholders, particularly with BankMuscat, recognizing their inherent strength and capabilities and that our growth and success is interlinked with theirs. As a result, the Board of Directors are confident that BMI Bank is well positioned to continue to deliver strong outcomes for all its stakeholders in 2012 no matter what challenges may lie ahead. WORD OF THANKS I wish to record my gratitude on behalf of the Board of Directors’ and shareholders to His Majesty King Hamad bin Isa Al Khalifa, the King of the Kingdom of Bahrain, and His Majesty Sultan Qaboos bin Said, the Sultan of Oman and to their respective governments for their continued support of BMI Bank. I would also like to place on record the Board of Directors’ sincere appreciation to the support and guidance provided by the Central Bank of Bahrain. I take this opportunity to express my admiration and sincere appreciation to all our staff across our operations in Bahrain, Qatar and Seychelles for their continued dedication and commitment to reach higher levels of excellence in 2011. Today, our Bank is one of the best capitalized Banks in Bahrain with very strong liquidity and a portfolio of unique and rewarding products and services and with the enthusiastic support from everyone in the Bank I am confident we will continue to deliver on our creed of being better, together. SHEIKH KHALID BIN MUSTAHAIL AL MASHANI CHAIRMAN [14] BMI Bank Annual Report 2011
[Equipped with a stable and growing business along with a refreshed strategy that was approved by the Board, we embark into 2012 with confidence. We will continue with our earnings momentum which will come from our many growth and productivity initiatives that are currently underway across all business lines.] BMI Bank Annual Report 2011 [15]
Page 1: [Growing Stronger] Annual Report 20
Page 4 and 5: [building a solid reputation for pr
Page 6 and 7: Our philosophy [OUR PHILOSOPHY] OUR
Page 8 and 9: Financial highlights 2011 [2011 Fin
Page 10 and 11: STRENGTH THROUGH Progress thanks to
Page 12 and 13: Chairman’s report [10] BMI Bank A
Page 14 and 15: Chairman’s report LOCAL MARKET Af
Page 18 and 19: STRENGTH THROUGH PARTNERSHIP Unbeat
Page 20 and 21: Chief executive officer’s report
Page 26 and 27: STRENGTH THROUGH VERSATILITY A rang
Page 28 and 29: Board of Directors’ profiles [boa
Page 30 and 31: Board of Directors’ profiles Brig
Page 32 and 33: Board of Directors’ profiles Dr.
Page 34 and 35: STRENGTH THROUGH efficiency develop
Page 36 and 37: Sharia Supervisory Board [Sharia Su
Page 38 and 39: STRENGTH THROUGH PRIVILEGES A commi
Page 40 and 41: Corporate governance [Corporate Gov
Page 42 and 43: Corporate governance Term of the Bo
Page 44 and 45: Corporate governance • Overseeing
Page 46 and 47: Corporate governance COMMITTEE FREQ
Page 48 and 49: Corporate governance Executive Mana
Page 50 and 51: Corporate governance Authorities Ma
Page 52 and 53: STRENGTH THROUGH INNOVATION Save wi
Page 54 and 55: Management team [Management Team] I
Page 56 and 57: Management Discussion and Analysis
Page 66 and 67:
Management Discussion and Analysis
Page 68 and 69:
[66] BMI Bank Annual Report 2011
Page 70 and 71:
Consolidated Statement of Financial
Page 72 and 73:
Consolidated Statement of Comprehen
Page 74 and 75:
Notes to the Consolidated Financial
Page 76 and 77:
Page 78 and 79:
Page 80 and 81:
Page 82 and 83:
Page 84 and 85:
Page 86 and 87:
Page 88 and 89:
Page 90 and 91:
Page 92 and 93:
Page 94 and 95:
Page 96 and 97:
Page 98 and 99:
Page 100 and 101:
Page 102 and 103:
Page 104 and 105:
Page 106 and 107:
Page 108 and 109:
Page 110 and 111:
Page 112 and 113:
Page 114 and 115:
show all

English - BMI Bank

Create successful ePaper yourself

Delete template?

Save as template?