NO. 29


Financial and Banking News

Bank Results

Bahrain International Bank Reports Loss of $8.3mn for 1990

Bahrain International Bank (BIB) reported a loss of $8.3mn for 1990 due toprovisions to cover investment losses. Net operating income for the year was$10.2mn, down 38% on 1989, mainly due to a fall in net interest income. However,the bank also showed losses of $331mn on the sale of marketable securities and$493mn on fees and foreign exchange. The 1990 balance sheet...