Mubasher: The financial statements of Ahli United Bank – Bahrain (AUB Bahrain), the dually listed bank on Boursa Kuwait and Bahrain Bourse (BHB), revealed a 6.3% year-on-year increase in net profit during the third quarter of 2019.

The profit hiked to KWD 55.05 million during Q3-19 when compared to KWD 51.787 million in the corresponding quarter in 2018, according to a bourse ststement on Wednesday. 

During the period from January to September 2019, the bank’s profit increased to KWD 169.932 million, compared to KWD 160.133 million during the corresponding period in 2018, with a 6.1% year-on-year rise.

Earnings per share (EPS) registered 18.9 fils during the January-September period this year, 7.4% higher from 17.6 fils in the corresponding period a year earlier.

The bank ascribed the rise in profit to the growth of average financing and investment portfolios as a result to the bank’s expansion, diversity of activities and revenue resources as well as its strategic approach to monitor the risks and follow-up growth opportunities.

It is worth pinpointing that over the first half of 2019, Ahli United Bank (AUB) posted a 5.6% year-on-year increase in net profit attributable to its equity shareholders.