Financial and Banking News
Saudi Banks' 3Q Profits Drop Sharply
Six Saudi banks have recently reported their unaudited third quarter results for 1985, in accordance with Commerce Ministry regulations. They all show reduced profitability, although only Saudi Cairo Bank is also reporting a decline in its total assets. However, the smallest and youngest of the banks in Saudi Arabia, the United Saudi Commercial Bank (USCB) has revealed a SR10.7mn loss for the first...