VOL. XL
No. 25
23-June-1997
SAUDI ARABIA
Saudi Banks Prosper Through First Quarter 1997
Saudi banks generally enjoyed a prosperous first quarter 1997 as all 11institutions in this survey boosted profits and total earnings jumped 12% against the sameperiod in 1996. Asset growth for the sector was 8% year on year, but loans fellyear-on-year (by 3%), as they did throughout 1996, as liquidity returned to the economyand contractors and other government creditors cleared their overdrafts. The only...
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