(MENAFN) Bank ABC Islamic proclaimed its net profit for 2016, which reached USD22.9mn, 16 percent higher than previous year"s net profit of USD19.7mn.
Moreover, net profit for the fourth quarter of 2016 was USD6.1mn, 70 percent higher than the USD3.6mn posted for the same period of 2015.
On the other hand, total operating income increased to USD30.5mn, with a growth of 11.7 percent over the previous year of USD27.3mn.
Meanwhile, the bank's capital base remained strong with a capital adequacy ratio of 28 percent, above the regulatory minimum of 12.5 percent.
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