Mubasher: Profits of Arab Banking Corporation (Bank ABC) retreated 39% to reach $36 million in the fourth quarter of 2015, compared to $59 million in the same quarter of 2014, according to a bourse statement.
The Bahraini bank has posted net profits worth $180 million during the fiscal year 2015, 30% lower than the year-earlier's $256 million.
Bank ABC announced that total operating income stood at $729 million in FY15, compared with $888 million in FY14.
Meanwhile, the operating expenses reached $421 million, 4% lower when compared to $439 million.
Shareholders’ equity at 31 December 2015 stood at $3,773 million after the distribution of dividend to the shareholders during 2015 and after considering the impact of foreign exchange movements on investments in subsidiaries.
“Bank ABC Group’s consolidated total capital adequacy ratio (CAR) calculated in accordance with the Central Bank of Bahrain’s Basel 3 rules remained strong at 19.4%, comprising predominantly Tier 1 at 17.3%,” according to the bourse statement.
