NO. 23


Financial and Banking News

Bank Results

Riyad Bank Writes Back Provisions For Big Profit Increase

For the second year in a row, Riyad Bank has recorded a substantial increasein profits on the back of a large write-back in provisions. To be fair,underlying performance was better, with operating profits up by nearly SR200mnand the income to expenses ratio improved for the second year in a row, but theincrease in operating profit would have been almost totally wiped out...