ABC announces $88 million half-year profits

23 August 1996

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.

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