Financial and Banking News
BMB Returns To Profit; Draws Up New Strategy
Bahrain Middle East Bank (BMB), which is undergoing a major strategic andmanagerial reorganization, has declared unaudited profits of $2.6mn for thefirst half of 1993. The bank posted a loss of $18.5mn for the whole of 1992,largely due to the need to allocate further provisions against Iraqi loans. Theimproved result during 1993 has come both from a reduction in provisions andfrom...