Financial and Banking News


Saudi Cairo Issues New Capital despite Poor Results

Although Saudi Cairo Bank has yet to release its results for 1986, the bank has promised figures by 20 June and unofficial indicators are that for the second consecutive year the board will declare a break-even position. Despite this, Saudi Cairo is going ahead with a SR150mn issue of new shares designed to double its capital by 4 July. The bank's 40% shareholder, Banque du Caire, is...