NO. 21


Financial and Banking News

Bank Results

Saudi American Bank Increased Profits By 7.6%

Riyadh-based Saudi American Bank (Samba), in which Citibank has a 30% stake,has declared a 7.6% rise in profits for 1994. The bank reported increased incomefrom most of its main operating divisions, and this more than compensated for arise in operating expenses and provisions. The dividend, which was cut in halflast year, has been restored to previous levels. The Managing...