Manama: Bank ABC (Arab Banking Corporation B.S.C.), trading under "ABC" on the Bahrain Bourse, announced its financial results for the first quarter of 2025, showing resilience amidst challenging economic conditions. The Group reported a net profit attributable to shareholders of USD 76 million, marking a 1% increase over the same period last year. Adjusted for foreign exchange translation differences, the underlying net profit experienced an 11% year-on-year increase, highlighting strong growth in the Group's core businesses.
According to Bahrain News Agency, despite ongoing economic and geopolitical uncertainties, Bank ABC maintained its strategic focus on growth, capital and liquidity buffers, cost control, and stable credit provisions. The bank's business excellence and innovation have been recognized regionally and internationally. Recent accolades include 'Best Bank for Trade Finance in Bahrain' and 'World's Best Financial Innovation Lab Award for ABC Labs.' Additionally, its Islamic subsidiary received awards for 'The Best Islamic Corporate Bank in Bahrain' and 'Best Digital Offering by an Islamic Bank in Bahrain.'
Bank ABC's Group Chairman, Naji Issa Belgasem, expressed satisfaction with the year's robust start, noting the bank's ability to navigate uncertain conditions while delivering sustainable growth. He emphasized the Board's commitment to long-term shareholder value, prudent risk management, and sound corporate governance.
In financial terms, the consolidated net profit attributable to shareholders of the parent was USD 76 million, a 1% headline increase from USD 75 million in the last year. The underlying net profit adjusted for FX impact was up by 11%. Earnings per share stood at USD 0.022, compared to USD 0.021 in the previous year.
The comprehensive income for Q1 2025 was a positive USD 154 million, compared to a negative USD 28 million last year, benefiting from the strengthening Brazilian Real against the USD. The headline Total Operating Income was USD 332 million, a 3% decrease from last year, while the underlying Total Operating Income rose by 5% to USD 360 million, adjusting for FX impact.
Equity attributable to shareholders and perpetual instrument holders reached USD 4,266 million, absorbing the impact of dividend payments. Total assets were USD 45.7 billion, reflecting a 1% reduction due to short-term asset and liability management fluctuations. The bank maintained healthy capital and liquidity ratios, with a Tier 1 Capital ratio at 15.0%, CET 1 at 13.2%, LCR at 209%, and NSFR at 126%.
Bank ABC operates across 15 countries on five continents, offering innovative global wholesale banking solutions in conventional and Islamic Finance. It provides consumer banking services through branches in Jordan, Egypt, Tunisia, Algeria, and its digital mobile-only bank, ila Bank, in Bahrain and Jordan. Full financial statements and the press release are available on the Bahrain Bourse and Bank ABC's website. The bank will host a virtual investors call on 15 May 2025 to discuss the Q1 earnings, with further details available at www.bank-abc.com.