Financial and Banking News
Saudi International Bank Declares Big Increase in Profits
London-based Saudi International Bank (SIB) has declared profits of 6.1mnfor 1991, compared to 2.2mn in 1990. Operating profits before provisions andtax almost doubled to 22.4mn due to significant increases in both interestincome and other income. Provisions were increased substantially in 1991 - to19.3mn from 9.5mn - but the bank benefited from a tax credit of 3mn,...