Flip through the latest issue of Gulf Weekly.
Ahli United Bank (AUB) posted a net profit of $143.5 million for the six months ending June 30, 2009 as compared with $211.7 million in the corresponding period last year.
Excluding exceptional gains on available for sale investments portfolio of $86.9 million last year versus $29.9 million this year, the adjusted consolidated operating income for was $382.4 million, a 2.2 per cent increase over the core operating income level of $374.2 million generated in the same period of 2008, despite a reduction in the loans and advances portfolio.
"The second quarter represented a watershed quarter for AUB in which, the bank was able to maintain core earnings despite the continuing repercussions of the global financial crisis further exacerbated by regional corporate failures.
"It is comforting to note the resilience and underlying strength of the bank's fundamental earnings power achieved through the collective effort of management and staff to navigate the business forward in these turbulent times", said Fahad Al Rajaan, chairman.
