Financial and Banking News
Saudi Cairo Reports Loss in Third Quarter
Saudi Cairo Bank, the sick man of Saudi banking, has continued to returndisappointing results with the unaudited third quarter balance sheet which wasrecently released. In the first nine months of the year, the bank has announceda pre-provision net loss of SR4.0mn ($1.07mn), compared to a pre-provisionprofit of SR8.5mn in the corresponding period of 1987. Operating incomeincreased...