Financial and Banking News


Two Saudi Banks Report Increased Profits

Profits at two of Saudi Arabia's joint-venture commercial banks are showing signs of improvement in the half-year results now being published. The second-smallest bank, United Saudi Commercial Bank (USCB), on the other hand, faces mounting losses. Al-Bank al-Saudi al-Hollandi reported an increase in net profits to SR17mn, while its loan portfolio shrank by 21.7%. Saudi investment Bank (SAIB) also...