Financial and Banking News
Riyad Bank Profits Fall
Total earnings of the Riyad Bank dropped by 12.2% to SR511mn ($142mn) for the fiscal year ending 21 March 1985, while net profits after appropriations eased back 1.4% to SR35.3mn ($9.8mn). Total assets fell by 5.5% to SR30.54bn ($8.5bn), although contra accounts grew 17.2% to SR20.85bn ($5.78bn). Customer deposits dropped 7.6% to SR20.17bn ($5.6bn).