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FINANCIAL NEWS
Saudi Mobily achieves USD 4.53mn Q1 net profit
20 Apr 2016
(MENAFN) Etihad Etisalat (Mobily) achieved a net profit of USD 4.53mn for Q1 this year, compared to a loss of USD 11.72mn for the same period of 2015.
Additionally, the increase of the income is related to the improvement of earnings before interest, taxes, depreciation and amortization, which amounted to USD 0.29bn.
Moreover, the firm GDP for Q1, 2016 amounted to USD 0.51bn compared to USD 0.51bn for the same quarter in 2015.
However, the decline in the profit was attributed to the drop f devices sale and slowdown sales influenced by customers fingerprint validation.
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CBB approves the transfer of the retail banking operations of HSBC Bank Middle East, Bahrain Branch to BBK
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