Financial and Banking News
TAIC Profits Drop 53%
Higher provisioning by The Arab Investment Company (TAIC) resulted in a 53% decline in earnings from $11.7mn to $5.5mn in 1985. Loan loss provisions were increased from $11.9mn to $20.5mn, a major portion ($14mn) of which resulted from the 48% devaluation of the Sudanese currency in February 1985. TAIC's assets increased 2.1% to $702.5mn.
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!