ABCs Net Profit Surges To $112Mn In 1999
Bahrain-based Arab Banking Corporation (ABC) last week announced a net profit of $112mn in 1999, an increase of 348% from $25mn in 1998, after allocating $97mn for loan loss provisions in 1999, down from $229mn in 1998. (In 1997 and 1996 ABC reported a net profit of $145mn and $129mn respectively MEES 16 August 1999.) ABCs board has decided to recommend a dividend for last year of 6%, or $0.6 per share. Net interest...