NO. 8


Financial and Banking News

Banking Issues

Saudi Cairo Hopes to Double Capital, but Timing Uncertain

Jiddah-based Saudi Cairo Bank is hoping to double its paid-in capital toSR1,200mn ($320mn) during the next few months. The bank hopes that the premiumon the share price will allow it to clean up its non-performing loan portfolioat a stroke, cutting short its recovery program by about three years.Nevertheless, the approval process for capital increases in Saudi Arabia...