VOL. XXXII
NO. 32
15-MAY-1989
Financial and Banking News
REGIONAL BANKING
Gulf Riyad Returns to Profit
Gulf Riyad Bank, which is a joint venture between Riyad Bank (60%) and CreditLyonnais (40%), has returned to marginal profitability after declaring biglosses in 1987. The bank's results for 1988 show profits of $1.5mn after a bigcut in loan loss provisions. Net operating income has recovered from $6.8mn in1987 to $9.3mn, but is still far below the 1986 level of $12.2mn. All profitshave been...
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