VOL. XL

No. 43

27-October-1997

SAUDI ARABIA

Saudi Banks Report Improved Third Quarter Earnings As Saudia FinancingComes To A Head

Third quarter results published so far by eight Saudi banks show year on year earningsgrowth averaging a steady 7% and total asset growth of just over 5%. The bulk of theincrease has gone into investment securities, although loans have also grown. As was thecase in the second quarter of the year, Riyad Bank, the second largest bank in theKingdom, has not published...