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EM debt investors had largely expected a debt treatment would be required
Undisclosed institutional shareholder sells stake in Wednesday evening ABB
The country is unlikely to issue new dollar bonds in the near future despite a big rally in yields
Underwriting left unused after deal is 33% oversubscribed
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Manama, Bahrain – 23 July 2012 – The Central Bank of Bahrain (CBB) announces that the monthly issue of the Sukuk Al-Salam Islamic securities for the BD 18 million issue, which carries a maturity of 91 days, has been oversubscribed by 188%.
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Manama, Bahrain: Arab Banking Corporation today announced that its consolidated Group net profit for the first half of 2012 was US$105 million. Net profit for the second quarter was US$51 million compared to US$54 million in the first quarter of 2012. Total operating income amounted to US$193 million, below US$214 million in the first quarter, mainly due to lower interest rates and exchange rate changes in Brazil even as income from lending activities increased on the back of higher volumes whilst trade finance activities continued to remain high. Total operating expenses were US$103 million compared to US$99 million and net impairment provisions were US$13 million against US$15 million in the previous quarter.