Financial and Banking News
USCB Declares First Profit since 1984
The United Saudi Commercial Bank (USCB), which in 1987 was the smallest ofthe 12 commercial banks in Saudi Arabia, has declared its first profit since1984 while keeping - loan loss provisions at the same level as the previousyear. Thanks partly to a cost-cutting drive which reduced the number ofemployees from 435 to 318, the bank declared profits of SR20.7mn in 1988,compared with an...
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