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21/02/2018 07:27 AST
Ahli United Bank B.S.C. (AUB) reported a net profit attributable to its equity shareholders of US$ 618.7 million for the year 2017, representing a growth of 8.4% as compared to a net profit of US$ 570.6 million in 2016. The net profit in Q4/2017 was US$ 150.0 million as compared to US$ 128.5 million in Q4/2016.
Net operating income increased from US$ 986.6 million to US$ 1,030.4 million in 2017 (+ 4.4%), driven largely by a rise in net interest income (NII) of 5.8% to US$ 876.5 million (2016: US$ 828.2 million). The NII increase was achieved through higher spreads resulting from focused balance sheet management together with prudent growth in asset volumes within acceptable risk criteria. The disciplined cost culture within the AUB Group resulted in a cost income ratio of 28.8% (2016: 27.6%).
The Group’s total assets grew by US$ 1.9 billion (+6.1%) to reach US$ 33.2 billion by 2017 yearend. This is attributable to a 4.8% growth in the loans and advances portfolio to US$ 19.5 billion (31 December 2016: US$ 18.6 billion) and a 7.8% growth in the investments portfolio to US$ 6.0 billion (31 December 2016: US$ 5.6 billion) to ensure a balanced funding profile.
Asset quality improved resulting from focused recovery initiatives during 2017. The nonperforming loan ratio improved to 1.9% as at 31 December 2017 as compared to 2.3% as at 31 December 2016 while maintaining a very solid specific provision coverage ratio of 85.1% (31 December 2016: 84.9%). The total provision coverage ratio was 154.3% (2016: 155.6%), excluding available significant asset collaterals against these exposures.
Biz Bahrain
30/03/2018
Ahli United Bank said on Thursday the shareholders have approved the 18 per cent cash dividend at its Annual General Meeting (AGM). The dividend amounts to $341.6 million (Dh1,257 million), together
Gulf News
14/03/2018
Bahrain's labour fund Tamkeen and Ahli United Bank (AUB) have signed a BD40-million ($106.08 million) portfolio to provide subsidised financing to eligible medium and large-sized enterprises in Bahra
Trade Arabia
22/10/2017
Capital Intelligence Ratings (CI Ratings), the international credit rating agency, today announced that it has affirmed Ahli United Bank’s (AUB) Financial Strength Rating (FSR) of ‘A’.
Acc
CPI Financial
Ticker | Price | Volume |
---|---|---|
SABIC | 114.77 | 5,915,941 |
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