VOL. XL
No. 9
3-March-1997
SAUDI ARABIA
Profits At Saudi Cairo Slump
Profits at Saudi Cairo fell 16% in 1996 to SR178mn ($48mn), due mainly to a dip in earnings from investment securities, which fell by over a quarter from 1995 levels, and a rise in salaries and employee costs of SR12.7mn ($3.4mn). Despite this, the dividend distribution has been roughly maintained at SR125mn. On the balance sheet there has been a significant shrinkage in both assets and liabilities - loans and advances fell by...
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