Financial and Banking News
NBB Reports Steady Profits for 1987
The National Bank of Bahrain (NBB) in 1987 managed to return a profit ofBD4.4mn ($11.7mn), the same as in 1986, despite the adverse business climatelast year. According to the bank's Chairman, Mr. Ahmed Ali Kanoo, earningsbefore provisions for bad and doubtful debts fell to BD10.9mn in 1987 fromBD11.4mn in 1986. The fall however was offset by a decline in provisions toBD6.5mn in 1987...