Alubaf Arab International Bank recorded a net profit of US$ 10.86 million for the first quarter ended 31 March 2015, which was in line with budgeted estimates, however, comparing with same period last year a decline of 7% was reflected. This decline is mainly due to decrease in fee and commission income  and loss on trading portfolio . Interest income was almost in line with last year same period. Cost to income ratio was under control and reduced to 21%.

Capital adequacy ratio remained strong at 40%, well above the mandatory requirements and Liquid assets to liabilities ratio was comfortable at 61%. Annualized return on average equity stood at 13% for the quarter ended 31 March 2015.

Mr. Hasan AbulHasan, chief executive officer, commented that results for first quarter 2015 was good and achieved budgeted  estimates, the Bank continued with its conservative stand on adequately providing for  impairment of assets and is well poised to achieve its strategic objectives .