BBK annual report eng 21.5.5

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Operational achievementsStaffAs the human face of the Bank, our peopleinspire trust and confidence in our clients,helping to build lasting and mutually beneficialrelationships. This is why we place importanceon ensuring their personal welfare andprofessional development.Management ReviewDuring 2004, the first group of graduatesin the new BBK Management TraineesProgramme completed their initial trainingand took up permanent positions throughoutthe Bank. The success of this innovativeprogramme, with its exacting entry criteriaand challenging development curriculum, hasattracted wide spread industry recognition.I am pleased to report that BBK enjoyed yet another successful year in 2004. The Bank’sfinancial performance and operational achievements continued to enhance our reputation,not only as the leading client-focused bank in the Kingdom, but also as the preferredemployer of Bahraini nationals in the private sector.We achieved healthy profits, grew our asset base,and maintained a consistent return on shareholders’equity. At the same time, we significantlystrengthened the Bank’s operating infrastructureand improved our services by enhancing therange of innovative delivery channels.Underlying BBK’s promise of a bright futurefor all stakeholders is our approach to bankingthat places the emphasis on people andperformance. Our objective is to make BBKthe best place to work, so that our staff,supported by efficient processes and cuttingedge technology, make BBK the best bank forclients. Such a partnership will help to ensurestrong financial performance and a superiorreturn to our shareholders.Dr Farid Ahmed Al MullaGeneral Manager Chief Executive OfficerAlso during the year, a new PerformanceManagement System was introduced for allstaff. This important people initiative providesa competency framework that recognises andrewards individual performance. The strategicaim is to build a cadre of well-qualifiedprofessionals that will form a foundation fora structured succession planning process.The Bank's longstanding commitment toproviding talented Bahrainis with excellentcareer opportunities was recognised during2004 by a special award from the executiveoffice of the General Assembly of the GCC.BBK became the first Bahraini bank to behonoured for its outstanding achievements inthe employment of nationals by the privatesector which stands at 95%.The success of this approach was illustrated byBBK’s achievements during 2004. These werethe direct result of management and staff fromdifferent parts of the Bank working closelytogether as one team. Such a pervading spiritof cooperation throughout the year resulted inBBK becoming a stronger, more efficient, andmore responsive financial enterprise.Dr Farid Ahmed Al MullaGeneral Manager Chief Executive Officer
95%Bahrainisation levelBBK became the first Bahraini bank to be honoured by the GCC Ministersof Labour and Social Affairs for its outstanding achievements in theemployment of nationals by the private sector.Annual Report 2004 10 | 11
Page 1 and 2: Annual Report2004
Page 3 and 4: Our VisionBank of Bahrain and Kuwai
Page 5 and 6: Financial Highlights2000 2001 2002
Page 7 and 8: Chairman’s StatementFinancial per
Page 9 and 10: AppreciationOn behalf of the Board
Page 11: Hamad Ahmad Al BusairiDirectorMoham
Page 15 and 16: CustomersTo meet the challenges pos
Page 17 and 18: 34%Utilization in internet home ban
Page 19 and 20: Abdul Karim Ahmed BucheeryAmit Kuma
Page 21 and 22: Operating expensesTotal operating e
Page 23 and 24: Treasury bills and inter-bank depos
Page 25 and 26: Liquidity riskLiquidity risk is def
Page 27 and 28: Additional DisclosuresI. Corporate
Page 29 and 30: 9. DutiesThe Committee shall:9.1. D
Page 31 and 32: Board of DirectorsGeneral ManagerCh
Page 33 and 34: XII. Disclosure Standards Requireme
Page 35 and 36: Consolidated Financial Statements34
Page 37 and 38: Consolidated Income StatementYear e
Page 39 and 40: Consolidated Statement of Changes i
Page 41 and 42: 3 Significant accounting policies (
Page 43 and 44: 3 Significant accounting policies (
Page 45 and 46: 6 Loans and advances to customers20
Page 47 and 48: 7 Non-trading investment securities
Page 49 and 50: 16 Cumulative changes in fair value
Page 51 and 52: 22 Segmental information (continued
Page 53 and 54: 25 DerivativesIn the ordinary cours
Page 55 and 56: 26 Commitments and contingent liabi
Page 57 and 58: 30 Interest rate risk management (c
Page 59 and 60: 30 Interest rate risk management (c
Page 61 and 62: 33 Liquidity risk (continued)As of
Page 63:
39 Deposit protection schemeDeposit
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BBK annual report eng 21.5.5

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