Browse related articlesABC to hike capital by $500m
Bahrain: Saturday, March 29 - 2008 at 07:49
Bahrain-based Arab Banking Corporation has proposed to increase its capital from $1.5bn to $2bn, cited news reports. This comes with a proposal to increase the issued capital from $1bn to $1.5bn by way of a pre-emptive rights offering to existing shareholders. The bank posted a net profit of $125m for 2007 compared to $202m in 2006 as operating results for 2007 were adversely impacted by the US sub prime crisis.
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Medilyn Manibo, Assistant News EditorSaturday, March 29 - 2008 at 07:49 UAE local time (GMT+4)
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