Financial and Banking News

REGIONAL BANKING

Saudi Banks Report Lower Earning

Eight Saudi banks which have reported unaudited half-year results show a general downturn in profitability as loan loss provisions are increased again. This continues a trend established last year, which produced the worst crop of results in the Kingdom since the Saudization of the the banking system. On the bright side, the two loss-making banks United Saudi Commercial Bank (USCB) and Saudi Arabian...