MANAMA: Alubaf  Arab International Bank , reported  a net profit growth of 21%  at US$ 35.9 million for the first nine months of 2014, compared with US$ 29.6 million in the same period last year.

Net profit for third quarter 2014 surged to US$ 12.5 million, as compared to US $ 11.8 million recorded in the same period last year.

Interest income for the first nine months of 2014 contributed significantly which increased by 34% over the same period last year. Trading income resulted in net gain of US$ 0.6 million compared to a negative trading income of US $ 1.4 million recorded in the same period last year. However, Fee and commission income dropped by 8% compared to same period last year.

Cost to income ratio remained stabilised at 21%, Liquid assets to total assets stood at level of 47%  and Capital adequacy ratio remained strong at 43% .

Bank cheif executive Hasan Abulhasan said the Bank is  poised to achieve better financial performance by year end.