Financial and Banking News
ABC Loan Provisioning Consumes all 1989 Profits
For the second time in the last three years, the Bahrain-based Arab Banking Corporation (ABC) has felt obliged to write off all its profits against provisions for possible loan losses - principally on its sovereign loan portfolio - announcing last week that its pre-provisioning profit of $132mn was being added to provisions "in line with prevailing international levels"....
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