VOL. XXXII

NO. 2

17-OCTOBER-1988

Financial and Banking News

REGIONAL BANKING

Saudi Fransi Reports 26% Increase in lQ-3Q Profits

Al-Bank al-Saudi al-Fransi last week published unaudited results for thefirst nine months of 1988 which showed a 26.1% increase in its profits fromSR45.5mn to SR57.4mn ($15.3mn). For the third quarter alone, 1988 profits wereSR11.2mn compared with SR4.8mn for the third quarter of 1987, but this increasewas directly attributable to a reduction in third quarter loan loss...