NO. 22


Financial and Banking News

Regional Banking

Riyad Bank Reports 23.6% Rise In Profits For 1993, Plans Capital Increase

Riyad Bank, Saudi Arabia's second largest bank, on 21 February announced anincrease in profits for 1993 of 23.6%. Net profits rose to SR921.9mn ($245.8mn)from SR745.8mn ($198.9mn) in 1992. The bank said it would pay a reduced dividendof SR15 per share compared with SR20 for the previous year, although earningsper share rose to SR46.40 from...