VOL. XLI

No. 21

25-May-1998

SAUDI ARABIA

Saudi Banks Face Fall In Oil Prices From Position Of Strength

The merger of Saudi Cairo and United Saudi Commercial (USCB) to formUnited Saudi Bank (USB) has altered the landscape of Saudi banking. The newly mergedinstitution, with Prince al-Walid ibn Talal as chairman, jumps up to become the fifthlargest bank in the Kingdom when ranked by equity and, with 78 branches at the end of theyear, USB will challenge the medium-sized joint venture banks for...