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Volume dips only slightly despite there being a third fewer transactions
◆ Europe's corporate bond market braces for US tech issuance surge ◆ Canada makes move for EU regs equivalence but to what end? ◆ Middle East private placements here to stay... but will take up less room
Private placements may have hung around much longer than first expected but their dominance may be at an end
Sukuk volumes much slimmer this year
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Source: Management & Business for Africa
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Manama, Bahrain: ABC Islamic Bank today announced a net profit of $8.1 million for 2011, 293% higher than last year. Total operating income was US$15.1 million compared to US$15.9 million for 2010, mainly due to de-risking of balance sheet asset size. Operating expenses of US$6.2 million were higher than the previous year of US$4.9 million, mainly due to a timing recognition of staff expenses related to compensation for last year. Impairment provision of US$0.5 million for regional exposure was taken during the year compared to US$8.6 million for the previous year. Net profit for the fourth quarter was $1.4 million compared to $1.6 million in the third quarter.