From Cpifinancial.net: ABC Islamic Bank has announced a net profit of $2.1 million for 2010 compared to $10.1 million for 2009. Total operating income was $15.9 million compared to $20.4 million for 2009, due to lower rates and de-risking of balance sheet asset size.
Staff and operating costs of $4.9 million were also lower than the previous year of $5 million. Impairment provisions of $8.6 million were taken for regional exposures during the year, $3.6 million higher than the previous year……………………………………….Full Article: Source