DUBAI Feb 19 Ahli United Bank,
Bahrain's largest lender, posted an 8 percent increase in
fourth-quarter net profit on Wednesday.
The bank's net profit for the three months to Dec. 31 was
$77.2 million, up from $71.5 million in the corresponding period
of 2012, it said in a statement.
Net profit for the full year 2013 was $579.4 million, a
significant jump on the $335.7 million it made in the previous
year, largely due to a one-off gain in the first quarter.
The bank booked a $212.9 million gain after selling a 29.4
percent stake in Qatar's Ahli Bank in January 2013 to
Qatar Foundation, a non-profit organisation wholly-owned by the
Gulf state's royal family.
Excluding that sale, the full-year profit was still 25.7
percent higher than the previous year, the statement said.
Ahli United's board has recommended a cash dividend of
$0.045 per share and a 5 percent bonus share issue for 2013.
This compares with $0.04 and 5 percent respectively in 2012.
(Reporting by David French; Editing by Matt Smith)