VOL. XXXIII
NO. 33
21-MAY-1990
Financial and Banking News
Bank Results
BBME Reports Record Profits
British Bank of the Middle East (BBME), the wholly-owned subsidiary of theHongkong and Shanghai Banking Corporation, has reported profits for 1989 ofœ30.7mn - the highest ever and a major improvement on the previous year, whenœ3.0mn was declared. The increase was due to a turnaround in the fortunes ofSaudi British Bank, in which BBME has a 40% stake, and to a rise of œ5.2mn inprofits earned by the...
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