Bahrain's Ahli United Bank, the country's largest bank, posted a big jump in quarterly net profit on Sunday, boosted by gains in net interest income and growth in private and commercial banking. Net profit in the quarter ended December 31 rose to $64.4 million compared to $17.1 in the year-earlier quarter, a statement said.
Full-year net profit rose 32 percent to $265.5 million and provisioning for impairments decreased to $151.7 million from $228.1 million in 2009.
Net interest income grew 9 percent in 2010, and profits from managed associates rose 26.5 percent, the statement said. AUB provides retail, commercial, investment banking, global fund management and private banking services across the Middle East.
Anti-government protests continued in Bahrain over the weekend but a central bank official said last week that the current unrest would not affect its economy or financial sector.