Financial and Banking News


Bank al-Jasira 1986 Profits Drop 84%

The Jiddah-based Bank al-Jazira reported an 84% decline in its profits from SR45mn to SR7.1mn in 1986, despite a 52% drop in its provisions for loan losses from SR42mn to SR20mn. The decline in the bank's profitability has been particularly sharp when viewed over a three-year period, as 1986 net profits amounted to only 10% of the 1984 profits, although the loan portfolio, at SRl,885mn in 1986, has...