VOL. XXXII

NO. 11

19-DECEMBER-1988

Financial and Banking News

REGIONAL BANKING

Chase Manhattan to Sell Full SAIB Stake

Chase Manhattan Bank has received approval in principle from the SaudiArabian Monetary Agency (SAMA) to sell the remaining 15% stake it holds in SaudiInvestment Bank (SAIB). The sale is to go ahead in 1989, although pricingdetails and the allocation of Chase's shares between existing and new Saudishareholders have not been decided. Last year Chase sold 5% of its original 20%stake...