NO. 19


Financial and Banking News

Bank Results

Profits Fall By 33% At Saudi Hollandi Bank

Riyadh-based Saudi Hollandi Bank has reported profits of SR121mn ($32.3mn)for 1994, a fall of 33% on the previous year. Losses on the securities marketare the main cause of the downturn. The bank's managing director, Mr. SheldonBoege, told MEES that all other aspects of the bank's operations had performedbetter in 1994 than in 1993 and that all potential losses in the securities...