VOL. XXXI
NO. 33
23-MAY-1988
Financial and Banking News
REGIONAL BANKING
ARCCEC Made $8mn Profit in 1987
With the public flotation of shares in Saudi Arabia's newest bank, Al-RajhiBanking and Investment Corporation (ARBIC) due to begin on 22 May, the bank'spredecessor, Al-Rajhi Company for Currency Exchange and Commerce (ARCCEC) haspublished a balance sheet. The ARCCEC figures are dated 21 December 1987,equivalent to 30/4/1408 AH, and show a surprisingly low profit figure of SR31mn($8.3mn) for the...
Please log in to read the rest of this story.
You may purchase access to entire
MEES digital archives by subscribing.
This subscription gives you access to all the content of MEES digital archives up to 1978!