Business Services Industry
UAE: ARAB BANK FOR INVESTMENT AND FOREIGN TRADE (ARBIFT) POSTS INCOME GROWTH.(Brief Article)
IPR Strategic Business Information Database, April, 2005
According to Al-Bayan newspaper (April 14, 2005), the Arab Bank for Investment and Foreign Trade (Arbift) posted a net operating profit of Dh 74.651 million last financial year, up from Dh 46.056 million in the previous year. The customers' deposits rose to Dh 156 million while the domestic loans portfolio grew by Dh 525 million due to financing of new local projects.
The international loans swelled by Dh 17 million due to bank's participation in the short-term loans. The investment of the bank amounted to Dh 103 million against Dh 149 million in 2003, a decrease linked with the sale of Euro Bonds.
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