No. 11



ABC Achieves 13% Profit Growth And 10% Growth In Asset Base For 2000

Arab Banking Corporation (ABC) announced on 4 March that it had achieved a net profit of $127mn in 2000 a 13% rise over the previous year following an 83% fall in 1998 due to high provisioning costs (MEES, 16 August 1999). The banks board of directors has recommended a dividend payment to shareholders of 7%, which represents a 17% increase over the previous year (MEES, 24 July 2000)....