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In the midst of unprecedented turbulence in the global financial services sector, Ahli United Bank (AUB) has delivered another strong performance for the first nine month period ended September 30, 2008 reporting a net profit of $280.1 million (BD105.62 million).
This represents an increase of 24 per cent over the same period in 2007. Net interest income increased by $84.1 million to $324.4 million for the nine months ended September 30. The group's core earnings were further boosted by higher fee and commission income of $124.7 million as compared to $112.1 million last year.
"AUB's performance on the backdrop of rising financial sector turbulence illustrate the strength of our underlying core earnings, conservative risk management and diversified lines of business. This is indeed a very good performance driven by underlying core operating earnings across all divisions, delivered in an unpredictably challenging environment for all market players never faced before," said chairman Fahad Al Rajaan, above.
