Ahli United Bank profit up 3%

Dubai: Ahli United Bank reported on Wednesday $159.4 million (Dh584.99 million) in net profit attributable to equity shareholders for the first quarter of 2017, marking a 3.1 per cent increase year-on-year.

The bank described the operating environment as “weak,” and said it focused on optimising its balance sheet management strategy. Net interest income rose 1.4 per cent to $204.1 million in the first quarter.

The group’s return on average equity in the quarter was almost flat at 17 per cent from 16.9 per cent in the same quarter of 2016.