ABC Islamic Bank, a subsidiary of Bahrain-based Arab Banking Corporation, yesterday posted a first quarter net profit of $3 million, up 66 per cent over $1.8m for same period last year. Total operating income for the first quarter was $4.8m, compared to $3.9m for the first quarter of last year.
Operating expenses increased to $1.8m compared with $1.4m, mainly due to a timely recognition of staff expenses related to compensation for last year……………………………………….Full Article: Source