VOL. XXXVI

NO. 1

5-OCTOBER-1992

Financial and Banking News

REGIONAL BANKING

Saudi Cairo to Double Capital

Saudi Cairo Bank will double its capital to SR1,200mn ($320mn) from SR600mn($160mn) through an issue of shares scheduled to start on 17 October. The shareswill be sold at SR350, of which SR250 will be a premium allocated to provisions.Bank du Caire, which has a 20% stake in Saudi Cairo, has decided to participatein the new issue so as to maintain its stake at 20% (otherwise it would forfeitits...