Financial and Banking News
Saudi British Bank Confirms Recovery with Record Profits
Saudi British Bank (SBB) has declared profits of SR192.1mn ($51.2mn) for1990, its highest ever, and a 56% rise on 1989. The results confirm the bank'srecovery from several years of losses or low profits in the mid-1980s (MEES, 19February 1990). Revenues increased in all areas of activity during 1990, withcommissions and foreign exchange rising 60%, reflecting the...