NO. 22


Financial and Banking News

Bank Results

Riyad Bank's Profits Plunge 37%

Riyad Bank, the second biggest bank in Saudi Arabia and one of the biggest inthe Gulf, has reported a 37% fall in profits for 1994. The decline was mainlydue to reduced income on its investment and trading portfolio, but an additionalfactor was that the bank was only able to write back into income a minimalamount of provisions, in contrast to the last four years, in which write-backshave...