VOL. XXXVIII
NO. 17
23-JANUARY-1995
Financial and Banking News
Regional Financing
Investcorp Axes Proprietary Trade Arm As Profits Fall By 24%
Investcorp, the Bahrain-based investment bank, has closed its proprietarytrading arm after it recorded losses of $8mn in 1994. The trading losses werethe principal reason behind the 24% slide in Investcorp's net profit for theyear. Mr. Elias Hallack, one of the bank's co-chief operating officers, toldMEES that, "We don't want to be in the derivatives and...
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