NO. 23


Financial and Banking News

Bank Results

Saudi Cairo Reports Big Increase in Pre-Provision Profits

Jiddah-based Saudi Cairo Bank more than doubled its preprovision profits in1991, but has allocated them all to provisions, in line with its on-goingrecovery program. Saudi Cairo declared pre-provision losses for 1988 and 1987,and then declared pre-provision profits of SR22.4mn for 1989, SR95.8mn for 1990,and SR226.8mn for 1991. Key elements in last year's improvement...