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Article: Albaraka's net profit soars to $43 million.(Financial report)
- Article from:
- Gulf Daily News (Manama, Bahrain)
- Article date:
- May 13, 2009
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Byline: ARTHUR MACDONALD
MANAMA: International Islamic banker Albaraka Banking Group is weathering the global slowdown more than most.
It yesterday announced a net profit of $43 million for the first quarter of the year, a 5.1 per cent rise from the fourth quarter last year.
The Bahrain-based banking group saw total operating profit hit $139m, which is almost at the same level of the first quarter last year of $141m.
After deducting all operating expenses, the net operating income amounted to $70.5m.
The net income of the group reached $43m up by 5.1pc from $40.9m in the last quarter of 2008.
As compared to the net ...