Financial and Banking News
Gulf Riyad Earnings Improve
After two years of declining earnings, Gulf Riyad Bank reported a 25% increase in its 1984 profits to $5.08mn, despite taking general provisions of $3.49mn (up 31% on 1983). Assets declined 6% to $1.19bn and the loan portfolio remained virtually unchanged at $522mn. Capital funds stood at $61mn at the end of 1984.