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AUB reports Q1/2016 net profit of US$ 154.6 million attributable to its shareholders

Ahli United Bank B.S.C. (AUB) reported a net profit attributable to its equity shareholders of US$ 154.6 million for the quarter ended 31 March 2016. The net profit reflected an increase of 5.0% in Q1/2016 as compared to the net profit figure of US$ 147.2 million achieved in Q1/2015. The Q1/2016 net profit also represents a 31.0% improvement over the Q4/2015 trailing quarter reported profit of US$ 118.0 million. The Basic Earnings per Share in Q1/2016 were US 2.3 cents, compared to US 2.2 cents in Q1/2015.

Despite continuing weak economic trends into 2016, AUB continued to grow its operating income underpinned by an effective balance sheet management strategy, with net interest income (NII) rising by 5.5% to US$ 201.3 million during the quarter. Total operating income grew by 6.3% from US$ 263.9 million to US$ 280.5 million. The cost income ratio improved to 28.1% (Q1/2015: 28.5%).

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AUB net profit surges by 11.3% to US$ 537.2 million in 2015

Ahli United Bank B.S.C. (AUB) reported a record net profit attributable to its equity shareholders of US$ 537.2 million for the year 2015, representing a growth of 11.3% compared to a net profit of US$ 482.5 million in 2014. The net profit in Q4/2015 was US$ 118.0 million as compared to US$ 106.2 million in Q4/2014.

The positive operating results of AUB were primarily driven by the growth in its core operating earnings across its major lines of business and markets, despite the continuing general weakness in economic trends regionally and globally, witnessed during 2015. The surge in operating income was underpinned by a 6.7% rise in net interest income (NII) to US$ 814.7 million despite the prevalence of very low absolute interest rate levels. The NII increase was achieved through a moderated increase in lending volumes as well as by a prudent deployment of liquidity in non-trading high quality investments within a conservative and diversified risk framework. The result was also complemented through focused liability cost management which improved NII margins. Total operating income grew by 4.9% to reach US$ 1,091.9 million (2014: US$ 1,041.3 million).The higher operating income and disciplined cost culture across the AUB Group further improved the operating cost income ratio to 28.3% (2014: 29.2%).

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Annual Report 2015


 
Consolidated Results for 31 March 2016 (English)


Consolidated Financial Statements for 3 Months Ended 31 March 2016 (Reviewed)
(English PDF 46.7 KB)
 
Consolidated Results for 31 March 2016
(Arabic)


Consolidated Financial Statements for 3 Months Ended 31 March 2016 (Reviewed)
(Arabic PDF 58.7 KB)