VOL. XXXII

NO. 46

21-AUGUST-1989

Financial and Banking News

REGIONAL BANKING

Saudi Cairo's Loss Reduced to SR2.5mn

Saudi Cairo Bank has dramatically cut its net loss in the first half of 1989to SR2.47mn from SR55.3mn in the corresponding period of 1988 according to thebank's unaudited half-year results. The bank report a gross profit of SR5.85mnin mid-1989 compared to a loss of SR20.0mn in mid-1988, however with a provisionfor bad debts in mid-1989 of 8.33mn compared to SR35.3mn in mid-1988, the...