Financial and Banking News
Saudi Cairo Profits Slide in 1Q 1988
Saudi Cairo Bank has reported a 75.7% decline in its 1Q 1988 profits toSR3.63mn ($968,000) from SR14.94mn ($4.0mn) in 1Q 1987, according to the bank'sunaudited results. The 1Q 1988 figure is before possible deductions for loanloss provisions. The bank's performance contrasts with the recent trend ofimproved profits at eight Saudi banks which have already reported stronger firstquarter...