VOL. XXXIX

No. 17

22-January-1996

SAUDI ARABIA

USCB Announces Small Increase In Profits As Provisions Rise

One of the more dynamic banks in Saudi Arabia, United Saudi Commercial Bank (USCB), has reported only a modest 1% increase in profits for 1995 to SR307.8mn ($82.1mn), although other performance indicators such as returns on assets and equity remain extremely healthy. The bank's new General Manager, Mr Karl Swoboda, told MEES that, despite an improvement in the macroeconomic...