VOL. XLI

No. 14

6-April-1998

SAUDI ARABIA

USB Strategy Will Be Settled By Mid-Year

The new United Saudi Bank (USB), the combination of United Saudi Commercial (USCB) andSaudi Cairo Banks, has produced its first set of accounts since the merger in September1997. In effect the merger is less a combination of equals and more akin to a takeover ofSaudi Cairo by USCB. Mr. Carl Swoboda, USB's General Manager, told MEES that thenitty-gritty work of the merger is now substantially complete - the...