NO. 30


Financial and Banking News

Bank Results

Arab Banking Corporation Shows 71% Profit Increase During 1993

Bahrain-based Arab Banking Corporation (ABC) has reported profits of $135mnfor 1993, a 71% increase on the previous year. Most of the increase wasaccounted for by the $51mn realized from the sale of some of the bank's sharesin Hong Kong-based International Bank of Asia (IBA), although the incomestatement was also boosted by a $40mn cut in operating expenses. Total...