VOL. XXXI
NO. 34
30-MAY-1988
Financial and Banking News
REGIONAL BANKING
Aggregate Profit of 23 Major Arab Banks Less than $100mn
The aggregate profit of the 23 Arab banks with assets exceeding $2bn whichhave so far reported their 1987 results is less than $100mn according to a MEESsurvey. The 23 banks, with total assets of $162.78bn earned only $95.93mn in1987. Six banks with assets of $58.53bn lost a total of $466.61mn (equivalent to0.80% of their assets), while 17 banks, with assets of...
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