ABC announces $88 million half-year profits

23 August 1996
FINANCE

Bahrain-based Arab Banking Corporation (ABC) has announced pre-tax profits for the first six months of 1996 of $88 million. The figure represents a 3.4 per cent fall compared with the same period the previous year. Operating profit for the period was $117 million. The bank attributes the fall to a decrease in noninterest income.

Assets at the end of June stood at $21,500 million, reflecting an increase of about 4 per cent compared with June 1995.

Total deposits stood at $17,500 million compared with $17,100 million in June 1995. Loans and advances to the end of the second quarter of 1996 were also ahead of the previous year's figure at $10,900 million.

You might also like...

A MEED Subscription...

Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.

Get Notifications