ABC posts 10 percent rise in net profit for H1 2001
Bahrain-based Arab Banking Corporation (ABC) posted net profits of $74 million for the first six months of 2001, representing a 10 percent rise in comparison to the $67 million figure of the corresponding period of last year, according to AFP news agency.
Despite the rise in profits, total assets of the bank declined three percent to $25.743 billion, yet the bank still remains the largest in the Arab world in terms of assets.
The principal shareholders of the bank are Kuwait Investment Authority with a 26.93 percent stake, Central Bank of Libya with 26.79 percent, and Abu Dhabi Investment Authority with 25 percent. Approximately 20 percent is traded on the Kuwait, Bahrain and Paris stock exchanges, and the remaining is held by private and institutional investors. —(MENA Report)
© 2001 Mena Report (www.menareport.com)