Financial and Banking News
Big Rise in Profits for Saudi-French Bank, but Provisions Remain High
Riyadh-based Saudi-French Bank (al-Bank al-Saudi al-Fransi) has declared a39% increase in profits for 1992, one of the biggest rises recorded by a Saudibank for the year. Income from securities, foreign exchange trading and bankingservices all increased, while costs rose by only 6%. Profitability remainsunspectacular by the standards of the top ranked Saudi...