VOL. XXXIV
NO.16
21-JANUARY-1991
Financial and Banking News
Regional Banking
USCB Uses Record Profits to Strengthen Reserves
Riyadh-based United Saudi Commercial Bank (USCB) has declared profits ofSR125.3mn ($33.4mn) for 1990, a 31% increase over 1989 and its highest ever.USCB is the first Gulf commercial bank to publish its 1990 figures. The bank'sboard of directors has recommended that the entire 1990 profit be transferred toshareholders' equity, a move which goes beyond the requirements of Saudi...
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