VOL. XLV

No 7

18-February-2002

SAUDI ARABIA

Saudi Banks Produce SolidPreliminary 2001 Results

The first few Saudi banks to issueheadline results for the year 2001, pending the publication of fully audited accounts,show little signs of having incurred any major downturn in their financialperformance, despite 11 September, lower oil prices and global economicrecession. Of the seven banks whose preliminary headline figures MEESacquired, only one, al-Rajhi Banking and Investment Corporation, has...