VOL. XXXIV

NO. 21

25-FEBRUARY-1991

Financial and Banking News

Regional Banking

Saudi Prince Raises Stake in Citicorp to 14.9%

Prince Walid ibn Talal ibn 'Abd al-'Aziz al-Sa'ud, the chairman and principleshareholder of Riyadh-based United Saudi Commercial Bank (USCB), is to raise hisstake in Citicorp to 14.9% from its present 4.9%. Citicorp announced on 22February that the Prince will pay $590mn for the convertible preferred stock andwill become the largest single shareholder. It was not immediately...