NO. 20


Financial andBanking News

Bank Results

Saudi Cairo Maintains Operating Profit, But Net Result Falls As ExpensesRise

Jiddah-based Saudi Cairo Bank has reported reduced profits for 1994, despitea small increase in operating income. The decline was due to higher operatingcosts caused by investments in technology. The directors are proposing tomaintain the dividend at the previous year's level, which represents a 10%return on paid-in capital. Mr. Andre van Hove, the...