Financial and Banking News
SAIB's Loan Problems Continue
Saudi Investment Bank (SAIB) has reported profits of SR10.9mn in 1989, whichis double the figure for 1988, but has increased its loan loss provisions,indicating that its long-standing problems with bad debt have still not beendealt with. In mid-1989 SAIB's General Manager, Mr. Mohammed Limhaisen, resignedand was replaced by Mr. Robert Wilcox. Total provisions during the past sixyears have...