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...
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