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FINANCIAL NEWS
Statutory reserves reach USD35b in listed Saudi companies
29 May 2014
(MENAFN) Statutory reserves of 128 listed Saudi companies were estimated at USD35.53 billion in the first three months of 2014, in which 30 of their capitals were estimated at USD105.09 billion, according to Arab News.
Al-Eqtisadiah Daily reported that 35 newly incorporated or losing firms do not retain statutory reserves.
Statutory reserves of banking sector reached USD19.99 billion in value, or 56 percent of total reserves, while the petrochemical sector captured 16 percent at the value USD5.598 billion.
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