Financial and Banking News
Bank Al-Jazira And Doha Bank Return To Profit
Jiddah-based Bank al-Jazira has reported net profits of SR40mn (SR10.7mn) for 1992, its best result since 1985. Last year the bank raised SR750mn through a share subscription to increase its capital by SR300mn to SR400mn and write off accumulated losses. The bank's assets rose 34% to SR5,662mn (SR1,510mn) in 1992. Money due from other banks accounted for 47% of assets, while...