Financial and Banking News
Nine Saudi Banks Show Doubled Profits
Results for the first nine months of 1988 for the nine Saudi banks to havereleased them (i.e. all except National Commercial Bank, Saudi Cairo Bank, andAl Rajhi Banking and Investment Corporation - ARBIC) indicate that aggregateprofits have doubled from SR350.7mn in 1987 to SR694.5mn in 1988. The volume ofprofits plus provisions has increased from SR1.05bn to SR1.24bn in 1988. Thenine...