NO. 18


Financial and Banking News

Regional Banking

ABC to Sell 30-35% of International Bank of Asia

Bahrain-based Arab Banking Corporation (ABC) is to sell 30-35% of its wholly-owned Hong Kong subsidiary, International Bank of Asia (IBA). The bank hopes to complete the flotation by the end of March, although some details have still to be worked out. ABC's President and Chief Executive, Mr. 'Abdullah Saudi, told MEES that "a decision still has to be taken on whether to sell...