Financial and Banking News
REGIONAL BANKING
UGB Shrinks Rapidly, but Returns to Profit
The Bahrain-based United Gulf Bank (UGB) has shrunk its balance sheet by a further 39% to only $307mn in 1986 (on capital of $200mn), but in the process has succeeded in returning to profitability after two years of losses. The 1986 profit was $6.0mn, which allowed UGB to pay a 5% cash dividend (worth $10mn) for the first time since 1983. UGB took a further $8.4mn in provisions in 1986, bringing its...
Please log in to read the rest of this story.
You may purchase access to entire
MEES digital archives by subscribing.
This subscription gives you access to all the content of MEES digital archives up to 1978!