VOL. XXXVI

NO. 31

3-MAY-1993

Financial and Banking News

BANK RESULTS

Apicorp Records Increased Profits

Dhahran-based Arab Petroleum Investments Corporation (Apicorp) has declarednet profits of $16.4mn for 1992, up from $10.7mn in 1991. The corporation, whichis owned by the 10 member governments of the Organization of Arab PetroleumExporting Countries (OAPEC), had operating profits of $31.4mn, and madeprovisions of $15mn.

Total assets at the end of the year were $1,171mn. Net loans, representingthe...