Financial and Banking News
Samba First Quarter Profits Tripled
Saudi American Bank (Samba) more than tripled its first quarter profits toSR66.4mn ($17.7mn), according to its recently released unaudited quarterlyresults. The Ql 1988 result compares very favorably with the SR90mn profit forthe whole of 1987, and together with a reduction in loan loss provisionsindicates that a significant recovery may be expected this year. However,Samba's loan...