.jpg?20260315')
Bank ABC Islamic has announced a robust financial result for the first quarter of 2025, reporting a net profit of $14.4 million, a 33.7 per cent increase compared to $10.8m for the same period last year.
This growth was achieved on the back of stable core business, effective cost management, and steady cost of credit.
Total operating income after profit on murabaha and other payables and before attribution to quasi-equity stood at $44.4m, 2.9pc higher than the same period last year, while net income attributable to quasi-equity increased by 11.7pc.
Allowances for credit losses for the period were a write back of $2.3m compared to a charge of $1.6m reported during the same period last year.
Operating expenses were $2.8m, compared to $6.7m for the same period of last year. Adjusting for exceptional charge of $4m last year, expenses were 4.1pc higher compared to Q1 2024.
The bank’s total assets stood at $3.042 billion as of March 31, 2025, compared to $2.865bn at end-2024.
Investments were at $1.2bn, compared to $1.3bn at 2024 year-end.
Murabaha receivables, ijarah and musharaka financing were $1,765m, compared to $1,550m at 2024 year-end.
Shareholders’ equity on March 31, 2025, stood at $372m, compared to $364m at 2024 year-end.
The bank’s capital base remains very strong with a capital adequacy ratio of 39.7pc, predominantly tier 1, which totalled 38.9pc.
Commenting on the results, Bank ABC Islamic managing director Hammad Hassan said: “We have had a solid start to 2025. Our core income held steady year-on-year basis, while tighter cost discipline and lower credit charges translated into impressive bottom-line growth. Activity in capital markets was particularly strong, with the bank leading several high-profile sukuk mandates.”
Bank ABC Islamic’s strong performance and client-centric innovation have earned it notable recognition. The bank was named ‘Best Islamic Corporate Bank in Bahrain 2024’ and ‘Best Islamic Digital Offering by an Islamic Bank in 2024’ by Islamic Finance News (IFN).
Additionally, several of the bank’s landmark transactions were recognised for their innovation and impact, including AerCap Holdings’ $500 million sukuk, which was awarded both the ‘Most Innovative Deal of the Year’ and ‘Sukuk Deal of the Year’. The bank also led the ‘Bahrain Deal of the Year 2024’ for Bahrain Steel’s $450m ESG financing facility, and structured Oman Telecommunications Company’s $500m sukuk, which received both the ‘Ijarah Deal of the Year’ and ‘Oman Deal of the Year’ accolades.
“These awards are a testament to the strength of our product offering, structuring experties and client engagement across our core markets,” added Mr Hassan.
“Despite an uncertain regional and global macroeconomic backdrop, we remain cautiously optimistic of the business environment for rest of the year.”
&uuid=(email))