VOL. XXX

NO. 24

23-MARCH-1987

Financial and Banking News

REGIONAL BANKING

ALUBAF Arab International Profits Increase 15%

The Bahrain-based ALUBAF Arab International Bank has reported a 14.7%increase in profits to $3.9mn for 1986, its fourth full year of operation.During 1986 the bank established its first branch, in Tunis, which contributed$59mn to the total footings and $172,000 to the bank's profits. Non-interestincome grew by 24.1% to $5.8mn, which bolstered the bank's income sufficientlyfor a...