Financial and Banking News


LAFB Profits Fall 14%

Profits of the state-owned Libyan Arab Foreign Bank (LAFB) dropped 14% last year to LD8.5mn ($27mn), which, following the trend of recent years, was exclusively earned by the bank's commercial banking department. LAFB also runs a development department which is concerned with aid-related loans and investments in developing countries, particularly in Africa, but this side of its activities has not grown in recent years...