Ahli United Bank Reports $31.2m Pre-Tax Profit
The newly-formed Ahli United Bank (AUB) has announced pre-tax profit of $31.2 million in the six months up to June 30th, Bahrain Tribune reported Saturday.
It was announced Friday that the total AUB income was $72.9 million with a cost-to-income ratio of 44.7 percent. The interest income represented half of the total operating income with strong fees generated from the private banking and wealth management businesses of both subsidiaries, the paper said.
AUB, formed by the merger of the United Bank of Kuwait and Al-Ahli Commercial Bank, is a Bahrain-registered off-shore banking unit - Albawaba.com
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- Standard Chartered attributes 20 percent of profits for 2003 to Middle East operations
- Middle East revenues contribute to 23% of Standard Chartered’s 1H profits
- Arab Bank recorded $250 million net income in 2001
- Ahli United Bank reports a net profit of US$ 482.5 million and operating income crosses US$ 1 billion