Financial and Banking News
Saudi American Bank to Double Capital through Transfer from Reserves
Riyadh-based Saudi American Bank (Samba) is to double its paid-in sharecapital and its statutory reserves through a transfer of funds from its generalreserves. An extraordinary shareholders' meeting is expected to be called inearly January to approve the moves. Citibank, which reduced its holding in Sambato 30% from 40% earlier this year, will retain...