Financing and Banking News
SEB Profits Slip
Profits at the Paris-based Saudi European Bank (SEB) dropped by 16.8% to FF38.1mn ($5.5mn) in 1985, although total assets grew by 26.7% to FF5,007mn ($720mn) and the loan portfolio increased by 13.3% to FF2,349mn. SEB's paid-up capital was quadrupled from FF50mn to FF200mn during the year, and in addition shareholders increased their subordinated lending from $15mn to $32.6mn, so that total shareholders' funds...
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