Financial and Banking News
UBAF Bank Profit Drops
Increased provisioning by UBAF Bank Ltd in London resulted in a 20% drop in pretax profits to £11.4mn in 1985. Profits before tax and provisions were in fact higher than in 1984, and total loan loss provisions at the end of 1985 amounted to 2.4% of the bank's medium-term loan portfolio. The bank's current assets amounted to £850.5mn, its loan portfolio maturing after one year stood at...