Financial and Banking News
ABC Returns to Profitability in 1988
The Bahrain-based Arab Banking Corporation (ABC) and its internationalsubsidiaries showed record profits of $142mn in 1988 after declaring a $178mnloss the previous year. According to the group's Chairman, Mr. 'Abdallah Saudi,the higher profits resulted from an increase in non-interest income, notablyfees and commissions. The group reduced its loan loss provisioning charge from$375mn...