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Bank ABC’s net profit soars to $113 million

Bahrain Business
Mon, 13 Aug 2018


MANAMA: Bank ABC has reported consolidated net profit, attributable to the shareholders of the parent, for the first half of 2018 at $113 million, 11 per cent higher when compared with $102m reported for the same period of the previous year. Profit before taxation was $119m, 25pc lower compared with $158m in the first half of 2017, and normalises to a positive 6pc growth, after adjusting for effects of foreign currency hedging transactions in Banco ABC Brasil, which have an offsetting tax charge impact and other one-off non-core items.

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