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...