VOL. XL

No. 19

12-May-1997

INTERNATIONAL BANKING

SIB Sees Profits Up By 9%

London-based Saudi International Bank (SIB), 50%-owned by the Saudi ArabianMonetary Agency (SAMA), has reported a 9% increase in post-tax profits to 24.3mn for 1996.Profit before tax was little changed at 35.3mn, although 1995's result was boosted by a 5.5mnwrite-back in respect of a provision made against relocation expenses from SIB's old Bishopsgate offices.The bank announced a 14% increase in the dividend to 8mn as...