Financial and Banking News
Saudi Hollandi Cuts Provisions and Shows Big Increase in Profits
A sharp cut in loan loss provisions allowed Saudi Hollandi Bank to record a54% increase in profits for 1991. Operating income rose by 4.5% becauseincreased earnings from securities and banking services more than compensatedfor a fall in net interest income. Securities income rose to SR91mn fromSR49.2mn and fees from banking services rose to SR31.5mn from SR25.2mn....