NO. 16


Financial and Banking News

Bank Results

USCB Celebrates Tenth Birthday With 26% Increase In Profits

Riyadh-based United Saudi Commercial Bank (USCB) has reported profits ofSR264.4mn ($70.5mn) for 1993, a 26% increase over 1992. Balance sheet growthcontinued in line with the rate seen in recent years, and there were furtherimprovements in profitability. The board is proposing to assign all profits toreserves in line with its long- standing policy of not issuing a...