VOL. XXXII

NO. 19

13-FEBRUARY-1989

Financial and Banking News

REGIONAL BANKING

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...