NO. 26


Financial and Banking News

Regional Banking

FBME Profits Increase as Investment Losses Stop

The Federal Bank of the Middle East (FBME), which is registered in theCayman Islands and based in Cyprus, has reported an increase in its net profitfor its financial year ending June 1989 to $1.6mn, equivalent to its performance two years ago. The only factor contributing to the bank's improvedprofitability was the absence of further losses at its Isle of Man-registered...