NO. 28


Financial and Banking News

Bank Results

United Saudi Commercial Declares Increase in First Quarter Profits

Riyadh-based United Saudi Commercial Bank (United) has announced firstquarter profits of SR39.1mn ($10.4mn), a 45% increase over the same period in1990. The bank is the first in the Gulf to publish first quarter results for1991. Its balance sheet continued to grow, with total assets reaching SR6,863mn,up 29% on a year ago. Customer deposits rose to SR4,741mn, up...