VOL. XLI

No. 14

6-April-1998

SAUDI ARABIA

Arab National Bank Sees Profits Climb 7%

Arab National, one of the medium sized Saudi banks, has a new managing director. Mr.Roy Garnham has stepped up from his position as treasurer to replace the bank'slong-standing chief executive, Mr. Elie al-Hajj, who resigned last year. Meanwhile ArabNational, in which Amman-based Arab Bank has a 40% position, announced profits of SR495mn($132mn) for 1997, up 7% against the previous year. As a result the dividend...