AUB reports a 34.3% increase in net profit for the year ended 31 Dec 2021

AUB reports a 34.3% increase in net profit for the year ended 31 Dec 2021

Ahli United Bank B.S.C. (AUB) reported a net profit attributable to its equity shareholders of US$ 156.6 million for Q4/2021, which represents a 265% increase over the Q4/2020 reported net profit of US$ 42.9 million driven by an increase in net interest income and a lower level of net credit provision charges. The Basic and Diluted Earnings per Share were US 1.3 cents in Q4/2021 versus US 0.3 cents in Q4/2020. Comprehensive income attributable to the owners of the bank for Q4/2021 was US$ 147.5 million (Q4/2020: US$ 47.9 million, +208.1%). Net interest income was US$ 227.6 million in Q4/2021 (Q4/2020: US$ 199.4 million, +14.1%). AUB reported a net profit attributable to its equity shareholders of US$ 607.2 million for the full year 2021, represents a 34.3% increase over the 2020 reported profit of US$ 452.2 million mainly driven by credit growth aided by effective balance-sheet management and the reduction in credit provision charges supported by overall economic improvement. The Basic and Diluted Earnings per Share in 2021 increased to US 5.6 cents as compared to US 4.1 cents in 2020. Comprehensive income attributable to the owners of the bank for the year 2021 was US$ 641.2 million (2020: US$