Ahli United Bank's H1 2014 net profits reach KWD 25.4 million

20/07/2014 12:28 AST

Kuwait's Ahli United Bank (AUB) reported net profits in the first six months this year up by 9.9 percent to reach KWD 25.4 million ($90 million), compared with KWD 23.2 million ($82 million) in the same period 2013.

AUB Board Chairman Dr. Anwar Al-Mudhaf said shareholders’ equity in the first half was up 16.4 per cent while return on assets was 1.5 percent. Earnings per share rose to 19.6 fils against 18 fils in the first half 2013.

Operating revenues of the bank reached KWD 53.4 million while assets surged by 12.5 per cent to KWD 3.571 billion in the first six months of 2014, against KWD 3.165 billion by the end of last year. Customer deposits rose 9.9 percent to KWD 2.3 billion.

"Our bank has achieved a balanced growth in all chapters of the budget and witnessed a rise in all financial performance indicators in the first half of the fiscal year," said Al-Mudhaf.


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