Financial and Banking News
Saudi Cairo Reports Disappointing Increase in Profit
Saudi Cairo Bank, for long the sick man of banking in the Kingdom, hasreleased unaudited half-year figures which show that despite a fourfold increasein net income this year, the bank's performance is still far below expectations. Net income increased from SR1.9mn in the first half of 1987 to SR8.1mnthis year. Neither of these figures takes account of loan loss...