* Q4 net attributable income $26 mln vs $21 mln yr-ago
* 2012 net attributable income $133 mln vs $118 mln in 2011
DUBAI Feb 20 Bahrain-based Islamic lender Al
Baraka Banking Group recorded a 24-percent increase
in fourth-quarter net income, the bank said on Wednesday, with
business expansion and improved asset quality aiding profit
The bank, which has operations across the Middle East, Asia
and Africa, made a net attributable profit of $26 million for
the final three months of 2012, compared with $21 million in the
corresponding period of 2011, it said in a statement.
Full-year net attributable profit was $133 million, a 13
percent gain versus 2011, when the bank made $118 million.
In March, Al Baraka's Chief Executive Adnan Ahmed Yousif,
told Reuters the bank was aiming for 15 percent profit growth in
The quarterly profit increase was backed by a 21 percent
gain in net operating income, which rose to $112 million in the
three months to Dec. 31, against $92 million in the same period
of the previous year.
Total assets stood at $19 billion at the end of December, up
11 percent on the $17.2 billion recorded at the end of 2011.
Deposits also grew during 2012, up 12 percent to $16.4
billion from $14.7 billion at the end of the previous year,
while total financing increased 21 percent to $14.3 billion from
$11.8 billion over the same period.
(Reporting by David French; Editing by Dinesh Nair)