Bahrain's Ahli United Bank posts 11.8 pct Q4 profit rise

DUBAI Tue Feb 19, 2013 7:12am EST

DUBAI Feb 19 (Reuters) - Ahli United Bank, Bahrain's largest lender by market value, posted a 11.8 percent gain in its fourth-quarter net profit, the bank said in a statement on Tuesday.

The bank made a net profit of $78.6 million for the three months to December 31, compared with $70.3 million in the corresponding period of 2011.

Full-year profit came in at $335.7 million, up from $310.6 million in 2011, the statement said.

Ahli United's board recommended a cash dividend of $0.04 per share and a 5 percent bonus share issue for 2012, versus a $0.03 cash dividend and 5 percent share dividend in the previous year, the statement added. (Reporting by David French; Editing by)