Wednesday 26, July 2017 by William Mullally

Bank ABC Islamic announces 41 per cent increase in half-year profit to $15.1 million


Commenting on the results, Mr. Hammad Hassan, Managing Director of Bank ABC Islamic, said, “Overall performance during the first half of the year is encouraging. Despite challenging economic environment, our focus on generating capital light ancillary business and the ability to originate and distribute transactions has helped in enhancing return on assets. During the first half of the year, the bank has concluded several high profile capital market transactions and successfully originated new corporate clients. The transaction pipeline is robust for rest of the year and our focus will remain on keeping credit costs in cheque. The bank is well positioned for second half of 2017.”

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