Financial and Banking News
Bank Al-Jazira and Saudi Cairo Bank Show Losses for 1987
The two latest Saudi Arabian banks to report their 1987 financial resultshave both shown losses. Bank al-Jazira showed a steep decline in profitability,with total income dropping from SR361mn to SR328mn, loan loss provisioningincreasing from SR20mn to SR100mn, and 1986's small profit of SR7.1mn becoming aSR92.9mn loss in 1987. The bank's loan portfolio slipped from...