VOL. XXXI

NO. 21

29-FEBRUARY-1988

Financial and Banking News

REGIONAL BANKING

Saudi French Results Slump further, ANB and Samba Recover

Results published last week by al-Bank al-Saudi al-Fransi (Saudi French Bank)show a continued decline in profitability. Pre-tax income was down by nearlyone-third to SR64.4mn in 1987, compared with SR110.4mn in 1985, the declinebeing all the more noticeable because of a sharp reduction in loan lossprovisions from 1986's peak level of SR148mn to SR88.2mn in 1987....