Mubasher: Ahli United Bank (AUB) reported a 17% rise in profits for the fourth quarter of 2017, according to a bourse filing.

Quarterly profits reached $150 million in Q4-17, compared to $128.5 million for the same period in the year before.

Annual profits also grew by 8.4% to $618.7 million, compared with $570.6 million in 2016.

The bank’s board of directors has recommended the distribution of cash dividends at 18% of the company’s capital, or $0.045 per share, with a total value of $578.34 million.

The board has also recommended distributing 5% bonus shares.