Browse
related articles
Operating expenses of $1.3m were also lower than $1.5m in 2008.
ABC Islamic Bank's total assets amounted to $1.39bn, a decrease of 5% over the total assets of $1.46bn for the year ended December 31, 2008.
Commenting on the results, Mr. Naveed Khan, Managing Director, said:
"The results are in line with the profitable operations of the parent, Arab Banking Corporation, and reflect efficiency of expense management against the backdrop of the global economic slowdown."
"We are mindful of the challenges the credit markets are facing moving forward, but feel very optimistic that they will be faced adequately, and in line with shareholder expectations," he concluded.
Digg
Facebook
LinkedIn
Twitter
Posted by Rana Mesbah
It looks like you are using a Mac - check out our 
Web Feeds