ABC profits up for third quarter

01 December 1995
FINANCE

Arab Banking Corporation (ABC) reported a 6 per cent rise in earnings for the first nine months of 1995. Net profits were $101 million for the nine months to September 1995, compared with $95 million for the same period a year earlier.

Assets on 30 September were 3 per cent higher than 12 months earlier at $19,748 million, mainly due to a rise in loans and placements with banks. The securities portfolio was reduced by 20 per cent during the 12 month period to $1,920 million. Customer deposits rose 14 per cent to $9,164 million while deposits from banks fell 12 per cent to $6,796.

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