Financial and Banking News


SIB Profits Fall, Capital to Increase

The London-based Saudi International Bank (SIB), which is 50% owned by the Saudi Arabian Monetary Agency (SAMA), has reported its second successive year of declining profitability and announced a forthcoming increase in its capital. SIB's pre-tax income declined by 6.8% in 1986 to £17.8mn, which is nearly a quarter less than in 1984. Total shareholders' funds increased steadily despite a...