VOL. XXXV
NO. 15
13-JANUARY-1992
Financial and Banking News
Regional Banking
Citibank Sells 10% of Saudi American to State-Owned Organizations
Citibank's sale of a 10% share in Saudi American Bank (Samba) was completedjust before the end of the year, so the proceeds should be available to boostCitibank's fourth quarter figures. The sale price was $280mn, implying a priceper share of $467 (SR1,750) against a book value of SR100. If Citibank has beenvaluing the shares at SR100 each in its own...
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