NO. 20


Financial andBanking News

Bank Results

BMB Remains Committed To New Strategy Despite Profits' Decline

Bahrain Middle East Bank (BMB), the Manama-based investment bank, hasreported a sharp fall in profits during 1994, mainly due to losses on itsinvestment portfolio. A fall in net interest income, which is consistent withthe bank's plans to move away from commercial lending, was another contributingfactor. Net profit for the year was $2.8mn, compared to $6.1mn in...