VOL. XXXV
NO. 34
25-MAY-1992
Financial and Banking News
Regional Banking
UBAF-Paris Moves into Profit
Paris-based Union de Banques Arabes et Francaises (UBAF) has recorded aprofit of FF13.4mn ($2.4mn) for 1991, a sharp turnaround on last year's loss ofFF146.9mn. Provisions were reduced sharply in 1991, but there was also animprovement in underlying profitability, with gross income increasing by 9% andoperating expenses reduced slightly. During the last year UBAF has refocussedits operations on its...
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