NO. 18


Financial and Banking News

Bank Results

Bahrain Middle East Bank Returns To Profit, Implements New Strategy

Bahrain Middle East Bank (BMB), the Manama-based offshore bank, has declaredprofits of $6.1mn for 1993 compared to a loss of $18.5mn in 1992. The turnaroundis due mainly to a reduction in provisions ($4mn in 1993 compared to $21mn in1992), but also to an increase in income from equity trading. During the lastyear, BMB has revamped its senior management and...