Financial and Banking News
Saudi British Takes Loss as Income Fades
With net interest income down to only SR162.8mn in 1987, less than half thelevel in 1984, Saudi British Bank slipped into the red last year for the firsttime. The bank declared a SR4.4mn ($1.2mn) loss for the year, compared with aSR8.6mn profit in 1986. Although loan loss provisions did increase slightly,from SR40.5mn to SR42.7mn, these were not the principal cause of the loss, which...