VOL. XXXII
NO. 22
6-MARCH-1989
Financial and Banking News
REGIONAL BANKING
Saudi British Losses Wipes Out Capital Increase
Saudi British Bank - in which the British Bank for the Middle East holds 40%of the equity - has declared a loss of SR239.3mn ($64mn) for 1988, which haseffectively wiped out the SR250mn in extra capital which the bank raised at theend of the year (MEES, 5 December 1988). The loss came despite a significantimprovement in operating profits and resulted from a SR301.8mn...
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