Financial and Banking News
Saudi American Bank Continues to Expand Profitably
Riyadh-based Saudi American Bank (Samba) has declared net profits ofSR910.3mn ($243mn) for 1992, a 21% increase on 1990. Increased earnings camemainly from investments in securities, which now account for 43% of the bank'stotal assets. The balance sheet grew by 5% in 1992, less than in recent years,although this flattening of growth is consistent with the results of the other...