Financial and Banking News


Samba's Profits Drop 22%

Total assets at the Saudi American Bank (Samba) increased by 11% in 1984 while earnings dropped 22% to SR280.6mn ($78mn), according to a bank statement last week. Shareholders' funds increased by 17% to SRl,363.5mn ($379mn), so that the return on total assets dropped from 2.9% in 1983 to 2.03% in 1984, while the return on total shareholders' equity dropped from 30.7% to 20.6%.