AUB Bank profits rise to $87m

April 2004
Middle East;Apr2004, Issue 344, p51
Ahli United Bank (AUB) has announced a net profit of $87.1 million for the financial year ending December 31, 2003, representing an increase of 46% or $59.7 million over the same period in 2002. Gross operating income during the same period was $195.4 million, compared with $163 million in 2002, despite downward pressure on interest rates. The result has to be evaluated against the competitive environment in which AUB operates and the impact of the last Gulf War on the region in the first half of 2003.


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