|
|
Article: Albaraka Banking Q1 net soars to $43m.
- Article from:
- TradeArabia (Manama, Bahrain)
- Article date:
- May 13, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Byline: Manama
International Islamic banker Albaraka Banking Group has 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 $139 million, which is almost at the same level of the first quarter last year of $141 million.
After deducting all operating expenses, the net operating income amounted to $70.5 million.
The net income of the group reached $43 million up 5.1 per cent from $40.9 million in the last quarter of 2008.
As compared to the net income of the first quarter of last year of $49 ...