VOL. XL No. 1728-April-1997
Gulf Riyadh Bank To Close Bahrain OffshoreUnit
The Bahrain-based Gulf Riyadh Bank - owned 60% by Saudi Arabia's Riyadh Bank and40% by France's Credit Lyonnais - has announced plans to liquidate its offshorebanking unit in Bahrain. The decision to liquidate the bank was taken at ashareholders' extraordinary meeting on 15 March.