VOL. XXXI

NO. 13

4-JANUARY-1988

Financial and Banking News

REGIONAL BANKING

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...