Ahli United posts 72.6% increase in 2013 net profit

February 20, 2014 12:46 am

Bahrain-based Ahli United Bank (AUB) has posted a 72.6% surge in net profits for 2013 to a record $579.4m, compared with $335.7m a year earlier. The amount includes an exceptional non-recurring gain of $212.9m on the sale of its 29.4% stake in Ahli Bank Qatar (ABQ), AUB said. Total assets grew 9.3% to $32.7bn by 2013 year-end, due to an 8.3% growth in the loans and advances portfolio to $17.3bn, the lender said.