Financial and Banking News
BUDGETS AND REVENUES
Saudi Banks Facing Decline in First Quarter
Following the publication of a generally downbeat set of results for Saudi banks in 1986 (MEES, 18 May), four banks in the Kingdom have released unaudited figures for the first quarter of 1987 which do not provide much cheer. The two larger Saudi banks which report on a Gregorian calendar basis - Saudi American Bank (Samba) and al-Bank al-Saudi al-Fransi - both report lower profits and higher...