VOL. XLIII

No. 06

7-February-2000

SAUDI ARABIA

Saudi Hollandi Records Record Profits Of SR303Mn In 1999

The first of the Saudi banks to distribute full financial results for 1999, Saudi Hollandi, has set a strong precedent, reporting record net profits of SR303mn ($80.8mn), a 20% increase over the previous year. On the strength of its performance, the banks dividend was upped by 25% to SR134mn ($35.7mn).

In a statement released with the results, the banks Managing Director Herman Erbe announced...