Financial and Banking News


Saudi Fransi Doubles Capital

The al-Bank al-Saudi al-Fransi has completed the necessary steps to raise its fully paid-up authorized capital from SR200mn ($53.3mn) to SR400mn ($106.6mn), and shareholders have been asked to call at the bank to receive the new certificates doubling their shares. The bank reported a moderate decline of 14Z in net profits to SR94.9mn ($25.3mn) in 1986, which saw its end-year assets increase to SR14.88bn ($4bn) from...