1999 News Story

Agricultural Bank reports increased lending

The Saudi Arabian Agricultural Bank (SAAB) has reported in its annual report that 3,942

loans worth SR 626.9 million (U.S. $ 167.17 million) were approved during fiscal 1997. This

amount is 28.6 percent higher than that for the previous year. In addition, SAAB granted

farmers SR 453 million (U.S. $ 120.8 million) specifically for the purchase of agricultural

equipment in that year.