SAIB Profits Up 46%
Saudi Investment Bank (SAIB) has reported a second year of strong growth, announcing profits of SR125mn ($33mn), an increase of 46% over 1995. Assets grew by a fifth to SR9,819mn ($2,618mn) and - bucking the trend - the loan portfolio increased by 12% to SR4,091mn ($1,091mn). SAIB, one of the smaller Saudi banks, successfully quadrupled its capital in the course of the year to SR720mn ($192mn) by capitalizing reserves (SR180mn), by...
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