Saudi banks achieve profit increases
The Saudi French Bank achieved net profits of SR 509 million in the first nine months of this year, reported Al-Watan newspaper. This figure represents a 20 percent increase compared to the corresponding period of last year.
The total borrowing and lending of this bank amounted to SR 14.8 billion during this period, reflecting a 15 percent rise. The total customer deposits hit SR 28 billion in the first nine months of 2000, also constituting a 15 percent relative increase.
The Saudi Investment Bank, reported Al-Ahram Al-Iktisadi posted a net operating income of SR 213.4 million between January and September of this year, compared to SR 188.4 million in the corresponding period of last year. These figures translate into a 13.2 percent growth. –(Albawaba-MEBG)