International Investment Bank (IIB), a leading Bahrain based investment bank has declared its quarterly results for the period till 31 March 2009.

During the quarter under review, lender's total income stood at $1 million, which is mainly derived from investment banking fees generated from the structuring, underwriting and placement of new investments, together with profit earned on funds placed with financial institutions.

Lender's total expenses have witnessed a decline of $2 million in the period, reflecting the lower business activity as compared to a year ago. A Net Loss of $ 0.9 million was incurred by the company compared to a Net Profit of $ 5 million earned in the same period of fiscal 2008.

The bank has attributed this dip to fewer investment banking transactions and lower profit rates applicable to bank placements as the Bank intentionally slowed down its investment activities as a measure of prudence during the current turbulent market situation.

Total Assets of the bank during quarter ended on 31 March 2009 stood at $198 million compared to $218 million in same period of fiscal 2008.