VOL. XLVI

No 8

24-February-2003

BAHRAIN

S&P Revises Outlook On Arab Banking Corp To Stable From Positive

Standard & Poors said on 17 February that it had revised its outlook on Bahrain based offshore bank, Arab Banking Corporation (ABC), to stable from positive as a result of its failure to sustain the momentum of improvement in its profitability. ABC is substantially increasing its loan-loss provisions as a result of the difficult environment in the US, Middle East and Latin America and...