NO. 31


Financial and Banking News

Regional Banking

Gulf Riyad Shows Profit for 1990 as Provisions Are Written Back Gulf

Riyad Bank has declared a profit of $592,448 for 1990 after writing backprovisions of $1.3mn into its profit and loss account. The bank is the onlyBahrain-incorporated offshore bank to have shown a post-provision profit for1990, although some institutions have yet to report their figures. Net operatingincome stood at $1.8mn for the year, compared to $4.2mn in...