VOL. XXXNO. 220-OCTOBER-1986
FINANCIAL AND BANKING NEWS
BAC Decapitalizes after Merger Talks Fail
After months of fruitless mergernegotiations, shareholders of the Ras al-Khaimah based Bank of the Arab Coast (BAC)voted last week to reduce the bank's authorized capital from Dh1000mn to Dh40mn($11mn). This has been effected by cutting the nominal value of BAC shares fromDh5 to Dh2 each. Paid-up capital, as of the 12 October shareholders' meeting,stood at Dh37.5mn ($10.3mn), and...