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Ahli United Bank Q4 Net Profit Jumps 37.6%, Proposes Flat Dividend

Ahli United Bank Q4 Net Profit Jumps 37.6%, Proposes Flat Dividend

The bank’s net attributable profit for the last quarter of 2014 was $106.2 million.

Ahli United Bank (AUB), Bahrain’s largest lender, posted a 37.6 per cent increase in its fourth-quarter net attributable profit, the bank said in a statement on Sunday.

The bank’s net attributable profit for the three months to Dec. 31 was $106.2 million, compared with $77.2 million in the corresponding period of 2013.

Investment bank SICO Bahrain had forecast the bank would make a net profit of $109.3 million.

The bank made an annual profit of $482.5 million in 2014, down from $579.4 million in 2013. The 2013 net profit included a one-off gain of $212.9 million from the sale of its 29.4 percent stake in its Qatari unit.

The bank’s board proposed a cash dividend of $0.045 and a five per cent stock dividend for 2014. The proposed payout was the same as for 2013, the statement said.

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