VOL. XXXVII

NO. 29

18-APRIL-1994

BankResults

SaudiInternational Bank Reports Record Profits

London-basedSaudi International Bank (SIB) more than doubled its net profits in 1993,largely as a result of an increase in non-interest income and a reduction inprovisions. The improvement occurred despite a 6.1mn exceptional expenseneeded to cover relocation costs following an explosion close to the bankscity offices in April last year. The directors are proposing a 5mn dividend,which is equivalent to 4%...