From Tradearabia.com: Arab Bank Group, one of the leading financial groups in the Middle East, has posted a 53 per cent drop in its 2010 net profit. The net profit touched $251 million after it set aside hefty provisions for bad loans for a second consecutive year.
Announcing the results on Monday, the bank said its net pretax and after provisions income amounted to $486.8 million during 2010, while operational revenues amounted to $1.76 billion compared to $1.77 billion for the previous year……………………………………….Full Article: Source