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24 February 2016
Alubaf Arab International Bank posted a Net profit of US$ 25.1 million for financial year ended 31 December 2015, as against US$ 40.7 million for previous year, signifying a decline of 38%.
Net profit recorded for fourth quarter ended 31 December 2015 was US$ 2.3 million as against US$ 4.8 million achieved in last year same period, a decrease of 52% on fourth quarter 2015, was mainly due to additional specific and general provisioning considered in 2015.
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