VOL. XXXIV

NO. 25

25-MARCH-1991

Financial and Banking News

Regional Banking

SIB Moves Back into Profit

London-based Saudi International Bank (SIB) has declared profits for 1990 of2.2mn compared to a loss in 1989 of 11.7mn. Nevertheless operating profit in1990 was significantly lower than in 1989 and provisions against bad anddoubtful debt were increased. No dividend has been recommended. In 1989 the bankmade an operating profit of 10.6mn after provisions of 6.0mn. An exceptionalcharge of 21.6mn,...