Financial and Banking News
REGIONAL BANKING
Allied Arab Bank Returns to Profitability
The London-based Allied Arab Bank reported a £5.65mn profit for 1985 (less £1.5mn loan 108s provisions), after recording losses of £3.49mn in 1984 and £10mn in 1983. The 1983 losses - of which E6mn were accounted for by bad loans to the Indian commodity trading group Esal - triggered an emergency recapitalization in 1984 when £41mn was injected into the bank, and its...
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