VOL. XLII
No. 13
29-MARCH-1999
BAHRAIN
ABC Records 83% Fall In 1998 Profits
Bahrain-based Arab Banking Corporation (ABC) on 11 Marchannounced 1998 profits of $25mn an 83% decline from 1997 profits of $145mn.According to a statement released by the bank, deterioration of risk in certainemerging markets resulted in the bank having to take provisions of $229mn (131%higher than 1997) to cover potential losses, particularly in China, Russia andAsia. "In view of this," the statement said, "ABCs Board...
Please log in to read the rest of this story.
You may purchase access to entire
MEES digital archives by subscribing.
This subscription gives you access to all the content of MEES digital archives up to 1978!