Financial and Banking News
Saudi European Bank Profits Rise 33%
The Saudi European Investment Corporation NV, the holding company of the Saudi European Bank, has announced a 33% in- crease in profits to $10.7mn for 1984. Profits after deductions for depreciation, reserves and interest dividends were $6.3mn, while total assets were $536mn. After doubling its capital in 1984, the group's shareholder funds stood at $159mn at the end of the year. During the year the...