Arab Islamic Bank Reports Unaudited Earnings Results for the First Quarter Ended March 31, 2018
Arab Islamic Bank reported unaudited earnings results for the first quarter ended March 31, 2018. For the quarter, the company reported total revenues of USD 8,961,433 compared to USD 8,053,580 a year ago. Net income before tax was USD 1,841,175 compared to USD 2,820,456 a year ago. Net income after tax was USD 1,402,175 or USD 0.020 per basic and diluted share compared to USD 2,250,456 or USD 0.045 per basic and diluted share a year ago. Net cash flow used in operating activities was USD 20,701,017 compared to USD 15,533,712 a year ago. Purchase of property, plant and equipment was USD 1,631,799 compared to USD 1,708,837 a year ago. Purchase of intangible assets was USD 77,720 compared to USD 213,732 a year ago.