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ABC’s full-year earnings up 17%

February 19, 2014 1:15 am

Bahrain-based Arab Banking Corp (ABC) said its consolidated group net profit for last year climbed 17% to $239m, compared with $205m for 2012, Gulf Daily News has reported. Total operating income rose to $857m from $816m in the previous year, despite the adverse impact from the stronger dollar on consolidation of revenues from subsidiaries, ABC said. Net impairment provision charge of $49m was $13m lower than in the previous year, due to recoveries and write-backs, the lender said.