Financial and Banking News


Riyad Bank Profits Slump as Provisions Rise 

Following the general pattern among Saudi banks, the Jiddah-based Riyad Bank has released figures for its fiscal year 1405/1406 (corresponding to 21 March 1985-11 March 1986) which show a 62.9% decline in earnings to SR189.3mn and an ll% increase in loan loss provisions to SR333.1mn. Total assets increased 7.5% to SR32,824mn, loans and advances declined by 5.1% to SR10,856mn, and deposits...