Messenger
KUWAIT CITY, Feb 7: Ahli United Bank K.S.C.P. (AUBK) announced its results for the fiscal year ended 31 December 2020, by confirming taking all required measures, and raising precautionary and impairment provisions to consider the currently assessed impact of COVID-19 on the economy and the materially impacted business sectors. Accordingly, the Bank has recorded a net profit for 2020 amounting to KD 29.7 million which is lower by 46% against KD 55.0 million of 2019.
Dr Anwar, Chairman of AUB
The Bank has positioned itself to prudently expand the financing activities and extend all possible support to the business sectors and clients affected by the pandemic by way of deferment of financing receivable installments. Bank’s total assets is recorded at KD 4.4 billion at the end of December 2020. The financing receivable portfolio has grown to reach KD 3.1 billion as of December 2020 (2019 : KD 3.0 billion) while customer deposits have also grown to reach KD 3.0 billion against KD 2.7 billion reported last year representing a growth of 11.5%. Shareholders equity stood at KD 443 million at the end of 2020 while Earnings per share (EPS) stood at 13.5 fils at the end of the year, compared to 26.5 fils in 2019.