VOL. XLIII

No. 08

21-February-2000

SAUDI ARABIA

Samba Attributes Profit Dip To Extraordinary Merger Costs But Expects Positive 2000 Results

Notwithstanding a hefty provisioning cost of some SR673mn ($179mn), Sambas 1999 results have withstood relatively well the test of its recent merger with United Saudi Bank (USB), which analysts had described variously as "forced upon them" and "not a particularly good match." The latest financial statement, which incorporates USBs results, reveals a net...