Mubasher: Ahli United Bank (AUB), the dual-listed bank on Bourse Kuwait and Bahrain Bourse (BHB), announced a 5.9% year-on-year increase in profit during the third quarter of 2019.

The net profit attributed to shareholders soared to $180.90 million in Q3-19 when compared to $170.84 million in the corresponding quarter in 2018, according to a recent statement to BHB.

The bank ascribed the rise in profit to higher income from investments which surged 21% year-on-year to $15.95 million. 

During the period from January to September 2019, the bank’s profit rose by 5.7% to $558.42 million when compared to $528.27 million a year ago.

The bank attributed the profit increase to higher income from investments which inched up by 06% to $67.79 million when compared to $67.34 million in the corresponding period in 2018.

It is worth pointing out that over the second quarter of 2019, AUB achieved 1.1% increase in profit at BHB 69.19 million ($184.66 million), compared to BHB 68.46 million ($182.71 million) in the corresponding quarter in 2018.