VOL. XXXII
NO. 24
20-MARCH-1989
Financial and Banking News
REGIONAL BANKING
Riyad Bank Declares Top Profits
Riyad Bank has declared profits of SR264.5mn ($70.5mn) for 1988 - the highestfigure reported by any of the banks in Saudi Arabia so far, and the bank's bestresults since the 1984/85 fiscal year. Riyad Bank maintained a relatively highlevel of provisioning against loan losses, bringing its total provisions takenover the past five accounting periods to SR1.56bn ($415mn), equivalent to about16%...
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