Hot News Headlines Business News  ABC posts $80m profit  MANAMA:
Arab Banking Corporation (ABC) yesterday posted a consolidated
group net profit of $80 million for nine months to September 30.
Net profit for the third quarter was $26m, 18 per cent higher
than the second quarter net profit of $22m.  Total revenues for
the third quarter amounted to $167m, compared with $184m in the
second quarter. However, excluding gains from buy back of its
subordinated debt, total operating revenues remained robust at
$159m, the same level as the second quarter.  Fee, commission
and other income remained steady whilst interest income improved
despite a decline in loans and advances due to run-offs and
cautious lending policies in the current economic environment.
Operating expenses at $82m were lower than the previous
quarter's total of $88m which had included reserves for
restructuring initiatives.  In view of the deterioration in
certain regional exposures, additional impairment provisions
were made in line with the grou