Bahrain-based ABC Islamic Bank has reported net profits of $11.4m for the first nine months this year, an increase of 25 per cent compared with the same period last year.

Net profit for the third quarter also rose by 25 per cent to reach $4m, compared with the same quarter last year.

The bank’s assets reached $1.2bn at the end of September, compared with $1bn at the end of 2013.

ABC Islamic Bank is the sharia-compliant arm of Bahrain’s Arab Banking Corporation (ABC).