40
WEDNESDAY, JULY 17, 1991
"THEY ARE ASSURED THAT WE SHALL DO OUR BEST FOR THEM.
STATEMENT
WILL BE MADE
WHEN A CLEARER
"A FURTHER GENERAL PICTURE OF THE OVERALL. FINANCIAL STATE OF THE COMPANY IS AVAILABLE.
DEPOSITORS
FROM REFRAIN TO THAT MAY ONLY HINDER US IN
"IN THE MEANTIME, PUBLIC DEMONSTRATIONS OR OTHER ACTION PROTECTING THEIR BEST INTERESTS.
I
WOULD
ASK
ANY OF THE FOLLOWING TELEPIIONE OFFICE:
RE MADE SHOULD CALL "PERSONS WISHING TO KNOW HOW A CLAIM CAN
NUMBERS AT THE OFFICIAL RECEIVER'S
877 6771
877 6775
877 6779**
INTERNATIONAL BANK OF ASIA LIMITED (IBA)
*
INTERNATIONAL BANK OF ASIA LIMITED (IBA) HAS TODAY (WEDNESDAY) ISSUED A STATEMENT REFUTING ANY RUMOURS CONCERNING ITS LIQUIDITY POSITION.
THE COMMISSIONER OF BANKING, MR DAVID CARSE, SEES NO REASON FOR A LOSS OF CONFIDENCE IN IBA, IN THE WAY WHICH HAS AFFECTED BANK OF CREDIT AND COMMERCE HONG KONG LTD. THE POSITION OF THE TWO BANKS IS VERY DIFFERENT.
COMMENTING ON IBA'S FINANCIAL CONDITION, MR CARSE NOTED THAT THE BANK RECENTLY ANNOUNCED A STRONG PROFITS GROWTH FOR THE FIRST HALF OF 1991, WITH FURTHER PROGRESS ANTICIPATED DURING THE REST OF THE YEAR.
THE COMMISSIONER SAID THE BANK MEETS ALL EXISTING PRUDENTIAL REQUIREMENTS.
IBA'S SHAREHOLDER, ARAB BANKING CORPORATION (ABC), HAS TOTAL ASSETS OF US$21 BILLION AND CAPITAL RESOURCES OF US$1.4 BILLION.
MR CARSE WELCOMES ABC'S REAFFIRMATION OF FULL SUPPORT FOR IBA.
MOREOVER THE OFFICE OF THE EXCHANGE FUND HAS AGREED TO PROVIDE LIQUIDITY SUPPORT TO IBA ON NORMAL COMMERCIAL TERMS.
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