Financial and Banking News
Aresbank Income Improves 6.6%
Banco Arabe Espanol (Aresbank) declared net income after taxes of Pta. 1,564mn ($11.8mn) in 1986, a 6.6% increase in peseta terms over 1985's Pta. 1,467mn ($9.5mn), when net income declined by 15.5% in peseta terms. After two consecutive years of decline, Aresbank's loan portfolio recorded strong growth in 1986, increasing by 48.7% to Pta. 120.1bn ($907mn). Interbank activity registered a slight decline,...