Financial and Banking News

REGIONAL BANKING

AAIB Crashes to $97mn Loss 

The Cairo-based Arab African International Bank (AAIB) had its 1985 results approved by auditors on 10 July, and showed a $17.1mn profit in 1984 crashing to a $96.9mn loss in 1985. The bank's balance sheet shrank - assets dropped 17.1% to $3,585mn - with the biggest contraction being in its interbank business. Interbank assets dropped 25.2% to $978mn while interbank liabilities dropped 29.8% to $2,006mn. The...