NO. 19


Financial and Banking News

Regional Banking

ANB Profits Up Despite High Interest Costs

Profits at Arab National Bank (ANB) reached a record level of SR322mn in1989, although the 23.8% increase was not enough for ANB to remain asindisputably the most profitable bank in the Kingdom. Both in terms of absoluteprofits (a sensitive issue among the relatively unsophisticated investors inSaudi bank shares) and in terms of its 18.56% return on average equity, ANB has...