| 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
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