Financial and Banking News
First Quarter Saudi Results Mixed
Three Saudi banks have released results for the first quarter of 1986. Al-Bank al-Saudi al-Fransi reported profits of SR26.6mn, down 16.2% on last year, and loan loss provisions of SR28.1mn, 34% higher than last year. Total assets were down 7.1% to SR13.2bn and customer deposits fell 12.8% to SR10.2bn, but loans were up 9% to SR6.6bn.
Saudi British Bank, on the other hand, reported static profits of...