Financial and Banking News
Saudi Hollandi Cuts Lending and Improves Profits
Al-Bank al-Saudi al-Hollandi, which is 40% owned by ABN Bank of theNetherlands, has cut its loan portfolio by 22% - the equivalent of SR773mn -during 1989. The bank's accumulated provisions cover 10.2% of its gross loanportfolio. Despite the drop in lending the bank's assets grew by some 5% as aresult of a SR1.1bn increase in its placements with banks, which were mainly...