Financial and Banking News
Bahrain's Al-Ahli Bank Declares Losses and Restructures Board
Al-Ahli Commercial Bank, the third biggest commercial bank in Bahrain, hasdeclared losses for 1989 of BD4mn ($10.6mn), after allocating provisions ofBD5.9mn. In 1988 the bank declared profits of BD1mn after provisions ofBD681,000. Pre-provision profits rose by 13% in 1989 to BD1.9mn as a result ofincreased income and unchanged expenditure. The loss for the year...