Financial and Banking News
ALUBAF Increases Profits
Profits at the Bahrain-based ALUBAF Arab International Bank increased by 5.6% to reach $3.4mn in 1985, despite a 75% increase in loan loss provisions. The loan portfolio grew by 12.5% to $231.5mn, while total assets increased by 17.3% to $718.8mn. The bank also announced that its Vice-Chairman, the ex-Managing Director of Kuwait's Alahli Bank, Mr. Husain Maki al-Juma', has been replaced. The growth of the...