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...