Bahrain’s Arab Banking Corporation jumps as annual profit rebounds
The Bahrain All Share Index advanced the fifth session straight, closing 1.10 per cent higher to 1,347.28 points on Tuesday, February 18. Arab Banking Corporation (ABC) gained 6.67 per cent, finishing at $0.40. Earlier in the day, ABC said its consolidated group net profit for the year ending 2013 was $239 million, a 17 per cent increase when compared to $205m for 2012. ABC provides corporate banking, trade finance, project and structured finance, syndications, treasury products and Islamic banking. It also provides retail-banking services through its network of retail banks in Jordan, Egypt, Tunisia and Algeria.