VOL. XXXII
NO. 28
17-APRIL-1989
Financial and Banking News
REGIONAL BANKING
SB Profits Recover as Provisions Drop
The London-based consortium bank Saudi International Bank (SIB), which is 50%owned by the Saudi Arabian Monetary Agency (SAMA), has recorded a 8.1mn profitin 1988, after losing 35mn the previous year. The recovery came about as aresult of the completion of a program of selling and providing for sovereignloans to rescheduling countries, which resulted in a provisioning charge of only7mn...
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