Financial and Banking News


Al Saudi Banque Profits Stagnant

The Paris-based Al Saudi Banque group last week announced stagnant profits for 1986 and revealed plans for increasing the bank's capital as loan loss provisions mount. In a statement from the bank's chairman, Mr. Shafiq al-Akhras, the bank blamed its lacklustre performance in 1986 on the relative decline of the US$, which accounts for most of its earnings, with respect to its FF-denominated capital base....