VOL. XXXI
NO. 17
1-FEBRUARY-1988
Financial and Banking News
REGIONAL BANKING
Saudi Cairo Reports Loss in 1986
The sick man of Saudi banking - Saudi Cairo Bank - has at last announced itsbelated 1986 results, showing a loss of SR59.67mn ($15.9mn). Saudi Cairo - owned60% by Saudi nationals and 40% by Banque du Caire - has had financial problemsin the recent past, necessitating intervention by SAMA to support it with alarge volume of low-interest deposits. Last June the bank doubled its capital to...
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