NO. 19


Financial and Banking News

Bank Results

Samba's Profits Rise again, Confirming Saudi Banking Trend

Riyadh-based Saudi American Bank (Samba) has reported profits of SR751.6mn($200mn) in 1991, a 43% increase on 1990 and its highest profits ever. The boardis recommending a gross dividend of SR522.6mn, which is 70% of profits andequates to SR84 per share after deduction of Zakat, but before foreign taxation.Managing Director Mehli Mistri told MEES that reasonable...