Ahli United Bank’s Net Profit Up 17 Percent

MANAMA, 16 May 2005 — Bahrain-based Ahli United Bank (AUB) reported on Saturday a 17 percent increase in its net profit for the first quarter of 2005 to $38.9 million. A bank statement said net interest and other income rose to $60.8 million from $57 million, while earnings per share reached 1.49 US cents, up from 1.28 cents in the corresponding period last year. AUB said total assets at the end of the period amounted to $8.43 billion, but gave no comparative figures.