Financial and Banking News
Arab Bank Profits Improve on Exchange Rate Effect
The decline of the US$ during 1987 provided the principal stimulus for a 7.8%improvement in net income of the Arab Bank Group, according to figures publishedin the bank's recently released Annual Report. Group profit reached a total of$82mn in 1987, but nearly half of this - $40.1mn - was attributable todifferences on exchange. The biggest growth in profits was recorded by...