Financial and Banking News
Riyad Bank Profits up 21%
Riyad Bank has released financial results for the first half of 1988 whichshow a 21% increase in its net income compared with the equivalent period lastyear. Net income in 1988 was reported as SR68mn ($18.2mn) compared with SR56mnlast year. However, the improvement appears to be mainly as a result of adecline in loan loss provisions, which dropped from SR2llmn to SR154.7mn,indicating that the...