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AUB profit declines to $531m in FY14

AUB profit declines to $531m in FY14
Photo Credit: Arabianeye-Reuters
AUB Bahrain
AUB
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Cairo-Mubasher: Ahli United Bank (AUB) reported a 14.89% decline in 2014 profit to $531.25 million, compared with $624.2 million a year earlier.

The bank said in a press release that it reported a record net profit attributable to its equity shareholders of $482.5 million for 2014,  a rise of 31.7% compared with net profit of $366.5 million in 2013.

The overall 2013 net profit of $579.4 million included an exceptional non-recurring gain of $212.9 million from the sale of its 29.4% stake in its Qatari affiliate, AUB added.

The net profit in Q4-14 was $106.2 million, compared to $77.2 million in Q4-13.

AUB’s total operating income crossed $1 billion for the first time since its inception in 2000 with an increase of 8.7% over the $958 million achieved in 2013.