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...
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