ABC Islamic reports 9% increase in Q1 profits

May 14, 2014 2:14 am

ABC Islamic Bank has reported a 9% increase in net profit for the first quarter of 2014 to $3.5m, compared with $3.2m reported in the first quarter of last year, Saudi Gazette has reported. Total operating income grew 26% to $5.2m, compared with $4.1m in the same quarter a year ago. Operating expenses increased to $1.6m from $0.8m for the same quarter of last year.