Financial and Banking News
SAIB Posts Half-Year Loss
The Saudi Arabian Investment Bank (SAIB) has reported a SRl.4mn ($383,000) loss for the first six months of 1985, compared with a SR10.7mn ($3mn) profit for the same period last year. A SR20mn ($5.5m) transfer to the bank's loan loss reserve during the first half of this year was responsible for the reported loss. The loan portfolio dropped by 10% to SR1.2bn while interbank placements and cash holdings were up...