ABG reports net income $67m for nine months
Manama, Nov. 10 -- Al Baraka Banking Group BSC (ABG), the leading Islamic banking group with its headquarters in the Kingdom of Bahrain, and which is traded at Bahrain Bourse and Nasdaq Dubai (under the trading code "BARKA"), achieved a net income attributable to equity holders of the parent of US$ 20 million in the third quarter of 2020 compared to US$ 28 million for the same period of 2019 with a decline of 28% due to significant increase in precautionary provisions to offset the adverse effect resulting from the negative economic impact from COVID-19 on most economic sectors including the banking sector. The basic and diluted earnings per share for the third quarter of 2020 was US Cents 1.61 compared to US Cents 2.24 for the same period ...
Click here to read full article from source
To read the full article or to get the complete feed from this publication, please Contact Us