Financing and Banking News
Arbift Profit Drops 9O% in Two Years
The Abu Dhabi-based Arab Bank for Investment and Foreign Trade (Arbift) has released results for 1985 which show net income for the year at Dh3.08mn ($0.8mn), or 90% less than the bank's profit in 1983 and 22% less than in 1984. This is the third successive year in which Arbift has announced lower profits. The fall in income reflects an overall shrinkage in the bank's commercial activity. Assets...