Bahrain-based Islamic lender, Khaleeji Commercial Bank (KHCB) has said its first-half net profit has dropped to BD1.02m ($2.7m) from BD7.12m during the same period last year, Gulf Daily News has reported. Second quarter net income stood at BD510,000, the lender said. "Given the difficult market conditions, KHCB has focused on diversifying and expanding its business while maintaining a conservative liquidity and capital position," said chairman Dr Fuad Al Omar.