VOL. XXXIX

No. 34

20-May-1996

BANK RESULTS

BACB Sees Profits Up 10% In 1995 As HSBC Increases Stake

A hefty release from provisions has enabled British Arab Commercial Bank (BACB), until recently known as UBAF Bank Ltd, to declare a 10% increase in post-tax profits and a dividend increased to 15mn. BACB, which is very much a trade bank dealing with North Africa and the Near East, is highly profitable - its performance indicators after tax are far better than other UK-based Arab banks...