VOL. XXXVII
NO. 23
7-MARCH-1994
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...
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