Financial and Banking News
Riyad Bank Acquires 29% of Saudi Swiss Bank
Riyad Bank has acquired a 29% stake in the Geneva-based Bank for Saudi-SwissTrade and Investment Ltd., which is to be renamed Saudi-Swiss Bank by the end ofJanuary 1988. Other shareholders in the bank are Union Bank of Switzerland,with a 51% stake, and Saudi individuals, with 20%. The Geneva bank will placespecial emphasis on developing business with Saudi Arabia and assisting in...