Financial and Banking News
AATB Increases Capital After Difficult Year
Summary accounts of the Cairo-based Arab African International Bank (AAIB) published in the press indicate that 1984 was a tough year for the bank. Assets remained stagnant at $4.4bn and contra accounts declined from $912mn to $738mn. Although time deposits edged up $46mn to $2.8bn, a larger drop in other classes of deposits had to be made up by an $11.7mn shareholders' loan. Accrued interest,...