VOL. XLI

No. 12

23-March-1998

SAUDI ARABIA

SAIB Reports 26% Increase In Profits

Celebrating its twentieth year of operations, the Saudi Arabian Investment Bank (SAIB),one of the smaller Saudi institutions, has reported profits of SR157mn ($42mn) for 1997.The result - an increase of 26% against the previous year's SR125mn ($33mn) - means thataverage profit growth since 1991 has been 35% per annum. A quadrupling of share capitaltwo years ago has enabled the bank to expand its balance sheet...