Financial and Banking News
Arlabank Reports Increased Profits
The net profit of the Arlabank group edged up by 16% from $17.3mn in 1983 to $20mn in 1984. Loan loss provisions increased from $5mn in 1983 (split equally between specific provisions and unallocated provisions) to $11.1mn in 1984, of which $5.6mn related to specific loan loss provisions. The unallocated loan reserve was increased by $5.5mn to a total of $19mn at the end of 1984, when shareholders' equity...