VOL. XXXIX

No. 4

23-October-1995

SAUDI ARABIA

Bank Al-Jazira Returns To Profitability

The only loss maker in the Saudi banking sector says that it hopes to break even in 1995, following its return to profitability in the third quarter of this year, and that it should turn in a profit in 1996. Jiddah-based Bank al- Jazira has announced an unaudited loss for the nine months to 30 September of SR6.9mn ($1.84mn), 24% less than the loss of SR9.1mn in the first three quarters of 1994. Mr....