Financial and Banking News
Saudi Investment Bank Doubles Profits, but Faces Revenue Challenge
Riyadh-based Saudi Investment Bank (SIB) doubled its profits to SR26.2mn in1991. Profitability remains low compared to other Saudi banks, but SIB saysthat it is now fully reserved against bad loans and has overcome the difficulties of the past few years.
The increase in profits is attributable to a sharp rise in non-interestincome and to a reduction of SR18mn in...