VOL. XLI

No. 07

16-February-1998

SAUDI ARABIA

Samba Rebounds

Saudi American Bank has recovered from its temporary slump in 1996 by announcingprofits of SR1,042mn ($278mn), representing a return of 2.4% on average assets and onaverage equity of more than 23%. No one doubts that 1997 was a good year for Gulf banks,but there are widespread concerns that the low international oil prices that have usheredin 1998 will impact negatively upon Middle Eastern economies. Robert Eichfield, Samba'smanaging...