UBAF-France Produces 17% Growth In Profits
Following the announcement of big losses in 1993 and its subsequent recapitalization, Paris-based Union des Banques Arabes et Francaises (UBAF) has announced a second year of profits in 1995. Net earnings after tax were up 17% on the previous year at FF55.4mn. However, a combination of a strong yen and a strong French franc reduced income and the size of the balance sheet. Indeed total assets, much of...