VOL. XLIII

No. 45

6-November-2000

SAUDI ARABIA

Seven Saudi Banks Report Solid Interim Financials

Of the Saudi banks whose third quarter interim results were available at MEES press time, all seven have recorded a healthy rise in profitability averaging 47% (see table below). The greatest rise was at the Saudi American Bank, which, post-merger completion, saw a 200% increase in net profits to SR1,501.2mn ($400mn). Its nearest rival in terms of equity size, Riyad Bank, recorded a much smaller...