Financial and Banking News
Saudi Bank Profits Drop 44% in 1986
Nine of the eleven banks in Saudi Arabia have so far reported results for 1986, and these show a 44% decline in profitability, which comes after a 48% drop in 1985. The decline in profits corresponds closely with the increase in loan loss provisions, which for the nine banks were up 24% in 1986 after a 46% increase in 1985.
The banks' results are not strictly comparable because the two biggest banks -...