The bank said it made SAR1.08 billion ($280 million) in the three months ending September 30, compared with SAR998 million in the same period of 2013, according to a bourse filing.
Saudi Arabia, Bahrain and the UAE recalled their ambassadors to Qatar in March, accusing Doha of failing to abide by an accord not to interfere in each other’s internal affairs.
The airlines, both battling to return to profitability, said the codeshare deal would cover 412 flights between Italy, Germany, Austria and Switzerland.
Shi’ite Muslim Iran and Sunni Saudi Arabia are enmeshed in a struggle for influence across the Middle East and they support opposing sides in political disputes across the region.
The lender said that its board had decided against issuing the convertible “due to uncertainty regarding its eligibility as an additional Tier 1 instrument”.
The official said that the fall in oil prices will not deeply impact UAE’s GDP growth since the country is economically diversified with oil accounting for less than 30 per cent of the GDP.
The lender said it made SAR461.8 million ($123.1 million) in the three months to September 30 compared with SAR433.3 million in the corresponding quarter of 2013.
The company made OMR5.3 million ($13.8 million) in the three months to Sept. 30, compared with OMR4.5 million in the corresponding period of last year.
The cement producer made a net profit after tax of OMR2.3 million ($6.0 million) in the three months to Sept. 30, compared with OMR3.8 million in the corresponding period of 2013.
The bank said it made SAR926 million ($246.9 million) in the three months ending September 30, compared with SAR685 million in the same period a year earlier.