AUB reports net profit of US$ 452.2 Million for the year 2020

SourceBizbahrain
SectorFinancial Services
CountryBahrain

Ahli United Bank B.S.C. (AUB) reported a net profit attributable to its equity shareholders of US$ 42.9 million for Q4/2020 (Q4/2019: US$ 172.1 million, -75.1%) primarily due to lower net interest income and higher precautionary provisioning attributable to Covid-19 pandemic. The Basic and Diluted Earnings per Share were US 0.2 cents in Q4/2020 versus US 1.6 cents in Q4/2019. Comprehensive income attributable to the owners of the bank for Q4/2020 was US$ 47.9 million (Q4/2019: US$ 194.5 million, -75.4%).

Net interest income was US$ 199.4 million in Q4/2020 (Q4/2019: US$ 228.8 million, -12.8%) and total operating income was US$ 289.0 million in Q4/2020 (Q4/2019: US$ 316.2 million, -8.6%). AUB reported a net profit attributable to its equity shareholders of US$ 452.2 million for the full year 2020 (2019: US$ 730.5 million, -38.1%). The Basic and Diluted Earnings per Share in 2020 were US 4.3 cents, compared to US 7.2 cents in 2019. Comprehensive income attributable to the owners of the bank for the full year 2020 was US$ 334.9 million (2019: US$ 772.3 million, -56.6%). Net interest income for 2020 was US$ 799.4 million (2019: US$ 951.5 million, -16.0%). Total operating income for the full year was US$ 1,111.9 ...read more...