Development bank APICORP expects 15 pct asset growth in 2019, CEO says | Reuters:
The Arab Petroleum Investments Corporation (APICORP) expects asset growth of up to 15 percent next year as it plans to enter new regional markets, its chief executive told Reuters.
APICORP’s mandate is to promote the development of the Middle East energy industry. The bank, a frequent issuer of international bonds, has also joined in several loan deals as the regional energy sector has had to raise money to cope with lower oil prices.
Owned by the Organization of Arab Petroleum Exporting Countries, APICORP had total assets of $6.6 billion at the end of June, according to its latest financial results.
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