MANAMA: Bahrain-based leading Islamic banking group, Al-Baraka Banking Group (ABG), which plans to enter Libyan market, Tuesday reported that it had achieved half-yearly operating income of $307 million.

The group also reported an increase of three percent in net income to $95 million for the first six months of 2010.

Total operating income amounted to $307 million in the first half of 2010 compared to $302 million for the first half of 2009, which reflects an increase of two percent. The net income attributable to the shareholders’ equity of the parent company for the first half of 2010 increased by 10 percent to reach $54 million compared with $49 million for same period last year.

With regard to the quarterly financial results for the second quarter of this year 2010, the group’s total operating income amounted to $150 million during the second quarter of 2010 compared with $163 million for the second quarter of 2009, while group net income amounted to $47 million in the second quarter of 2010 compared with $49 million for the second quarter of 2009. The net income attributable to the shareholders’ equity of the parent company for the second quarter of this year amounted to $ 27 million compared with $ 25 million for the same period last year, an increase of five percent.

The total assets of the Group amounted to $13.6 billion as at the end of June 2010, compared with $13.2 billion as at the end of December 2009, representing a growth of three percent.