VOL. XLIV

No. 14

2-APRIL-2001

BAHRAIN

Bearish Global Market Sentiments Hits Bahrains Offshore Banks

Bahrain International Bank (BIB) announced on 25 March that its net income had fallen from $30.3mn in 1999 to $313,000 in 2000, due mainly to reduced operating revenues, a rise in operating expenditures and an increase in provisioning costs. In a statement, the bank announced that operating revenues fell to $22.5mn from $48.2mn due to the "continued postponement of several investment realizations...