VOL. XXXII

NO. 42

24-JULY-1989

Financial and Banking News

REGIONAL BANKING

TAIC's Profits Fall in 1988

The Arab Investment Company (TAIC) has announced net profits of $3.2mn in1988, down 11.1% from $3.6mn in 1987, mainly due to a trading loss of $552,000.Provisioning fell to $10.5mn in 1988 from $14.6mn in 1987. Total assets alsofell 7.9% to $685mn. TAIC's total direct equity commitments at the end of 1988were $165.7mn, of which only $61.9mn were in equity investments, reflecting thelack of good...