VOL. XLI

No. 08

23-February-1998

SAUDI ARABIA

Saudi British Sees 1997 Profits Rise 16%

Saudi British Bank, in which HSBC Group has a 40% stake, has announced a 16% increasein net earnings to SR540mn ($144mn) - despite a higher charge for provisioning andnegative net interest (special commission) income. The dividend has also been increased toSR389mn ($104mn) or SR0.43 per share. Unlike many Gulf banks, which are content to leaveexcess capital on the inter-bank market (certainly by the time...