Financial and Banking News
Arab National Bank To Double Capital; Saib Considers Raising New Money
Riyadh-based Arab National Bank is to double its paid-in capital to SR1,200through a transfer from reserves. Managing Director Eli al-Hajj says that theapproval process has almost been completed. At the end of 1992 the bank hadshareholders' equity of SR2,246mn, of which share capital was SR600mn, statutoryreserves SR600mn, general reserves SR1,040mn, and...