ABC Islamic Bank gains up 25% at $7.5m

ABC Islamic Bank on Saturday announced that its net profit for the first half of 2014 was $7.5 million, 25 per cent higher than the profit of $6.0 million reported in the first half of 2013.
Total operating income rose to $10.7 million, compared to $8.3 million for the first half of last year. Operating expenses increased to $3.1 million compared to $2.2 million for the same period of last year.

Net profit for the second quarter was $4 million, 43 per cent higher than the same period of previous year and also represents a 14 per cent increase over the first quarter of 2014. Operating expenses were $1.5 million compared to $1.3 million in the second quarter of 2013.

Compiled from staff reports