VOL. XL
No. 14
7-April-1997
SAUDI ARABIA
Riyad Bank Belatedly Issues 1996 Results
Riyad Bank, historically the second largest bank in Saudi Arabiaby assets, earned SR809mn ($216mn) in profits in 1996 - an increase of 6% over 1995'sSR764mn ($204mn). The results were carried in a brief statement issued on 30 March, butthe status of the bank's dispute with the Ministry of Finance and Economy on theoutstanding SR3bn ($800mn) owed by Saudi Arabian Airlines (Saudia) was not spelled out.The bank...
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