Financial and Banking News


More Saudi Banks Report Declining Profits 

More Saudi banks have reported declining profits in their mid-year results, in line with the trend set by al-Bank al-Saudi al-Fransi, Saudi American Bank (Samba) and Bank al-Jazirah (see MEES, 26 August for their first half 1985 results). Arab National Bank - owned 40D by Arab Bank of Jordan and 60D by the Saudi public - has reported a 2.8% drop in its net income of SR115.2mn ($31.6mn) in the first...