VOL. XXXI
NO. 27
11-APRIL-1988
Financial and Banking News
REGIONAL BANKING
Bahrain Middle East Bank Wipes Out Reserves
The 1987 results of Bahrain Middle East Bank (BMB) show a loss of $22mn,which has wiped out the bank's entire reserves and partly eaten into itscapital. BMB has suffered from three years of very poor profitability, withnet income of only $0.6mn in 1984, $0.26mn in 1985 and $2.61mn in 1986, and hasbeen forced to take most of its operating income as loan loss provisioning.However...
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