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...