Arab Islamic Bank Reports Unaudited Preliminary Earnings Results for the Year Ended December 31, 2017
Arab Islamic Bank reported unaudited preliminary earnings results for the year ended December 31, 2017. For the year, the company reported total revenues of USD 33,905,595 compared to USD 26,971,233 a year ago. Net income before tax was USD 8,999,830 compared to USD 8,461,782 a year ago. Net income after tax was USD 6,402,924 or 0.00 per basic and diluted share compared to USD 6,220,821 or USD 0.124 per basic and diluted share a year ago. Net cash flow used in operating activities was USD 67,597,344 compared to USD 80,479,148 a year ago. Purchase of property, plant and equipment was USD 6,461,027 compared to USD 7,003,530 a year ago. Purchase of intangible assets was USD 533,352 compared to USD 141,434 a year ago.