Sun 26 Sep 2010 07:52 AM
Adel El Labban
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Adel El Labban

Industry: Banking & Finance

Designation: Bahrain-based Ahli United Bank announced net profit for H1 of close to $136m, a decrease of five percent on the same period last year.

Country: Bahrain

Occupation: Bahrain-based Ahli United Bank announced net profit for H1 of close to $136m, a decrease of five percent on the same period last year.

$48,518

Ahli United Bank

Bahrain

Bahrain-based Ahli United Bank announced net profit for H1 of close to $136m, a decrease of five percent on the same period last year. But MD Adel El Labban will be hoping that his workforce of 2,800 employees won't take long to turn things around.

In fact they may already be doing so: in Q2 net profit at AUB rose 22 percent to $70.2m from $57.6m a year earlier. Income in the quarter fell twelve percent to $174.3m, but it booked only $28.4m in provisions for bad loans, compared to $80.9m in the year-earlier quarter.