NO. 38


Financial and Banking News

Bank Results

Bank al-Jazira Declares Fourth Consecutive Annual Loss

Jeddah-based Bank al-Jazira has declared is fourth consecutive year oflosses and clearly needs radical restructuring if it is to stand any chance ofreturning to profitability in the foreseeable future. The fact that the 1990 lossof SR32.7mn is half that declared in 1989 is little comfort. Salaries, staff andother expenses, though significantly down on the previous year,...