Ahli United Bank AUBB.BH (AUB), Bahrain's largest lender by market value, posted a 44.9 percent drop in third-quarter profit on higher loan provisions.
The bank said net profit came in at $43.5 million for the three months to Sept. 30. The lender booked $68.14 million in provisions during the third quarter, up from only $10.2 million in the year-earlier quarter.
AUB had increased provisions on its Saudi corporate loan portfolio to 75 percent from 65 percent during the second quarter, it said in a statement on Sunday.
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