VOL. XXXII
NO. 6
14-NOVEMBER-1988
Financial and Banking News
REGIONAL BANKING
Saudi British Bank Raises Capital for Loan Provisions
Saudi British Bank (SBB) has announced plans to raise SR250mn ($167mn) worthof fresh capital funds by issuing one million SR100 shares at a SR150mn premium.The premium will be used to bolster the banks' provisions for loan losses. SBBhas been hard hit by the need to provide for bad and doubtful loans in recentyears, and has taken a total of SR245mn in provisions during...
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