Middle East Economic Survey

VOL. LIV

No 20

16-May-2011

REGIONAL

APICORPs Net Profit Up By 62% In 2010

The Arab Petroleum Investments Corporation (APICORP) announced on 9 May a record net profit of $95mn in 2010, up $58.5mn, or 62%, above the 2009 figure.The multilateral bank said that total assets for the period rose to $4.3bn, a 5% increase over their 2009 levels of $4.1bn, while total shareholders equity also rose by 13% to reach $1.1bn. The 2010 results provide an impetus to our five-year...