Mubasher: Al Baraka Banking Group on Wednesday reported a 25.17% decline in net profits and a 10.03% drop in net profits attributed to shareholders in the first quarter of 2017 ended 31 March, compared to Q1-16.

Net profits stood at $51.51 million in Q1-17, compared to $68.84 million in Q1-16, according to a filing to the Bahrain Bourse (BHB).

Net profits attributed to shareholders reached $34 million in Q1-17, compared to $37.79 million in the corresponding quarter in the year earlier.

Al Baraka had previously reported a 6.48% decrease in profits reaching $267.64 million in 2016, compared to $286.19 million in 2015.