VOL. XXXV
NO. 8
25-NOVEMBER-1991
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...
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