Financial and Banking News
Saudi Banks Post Lower Profits
Those Saudi banks which have so far announced half year results for 1985 have revealed declining profits, for the most part repeating a downward trend first apparent in 1984 (MEES, 22 April). Last year the only bank reporting on an end-December basis which posted a higher profit was al-Bank al-Saudi al-Fransi, whose 1985 half-year results indicate a 3.4% drop in profits. Profits of Saudi American Bank (Samba)...