VOL. XXXI

NO. 24

21-MARCH-1988

Financial and Banking News

REGIONAL BANKING

ALUBAF Arab International Slashes Profits

The Bahrain-based ALUBAF Arab International Bank has slashed its profits from$3.87mn in 1986 to only $573,000 in 1987 by taking increased provisions for loanlosses. However, net operating income increased by 15.8% to reach an all-timehigh of $16.3mn during 1987, while the bank's expenses increased 8.4% to $6.7mn.The loan loss provisioning in 1987, which nearly equals the total volume...