Sun 26 Sep 2010 07:52 AM
Abdulmohsen Al Fares
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Abdulmohsen Al Fares

Industry: Banking & Finance

Designation: Ouch. It was never meant to be like this in the region's biggest economy.

Country: Saudi Arabia

Occupation: Ouch. It was never meant to be like this in the region's biggest economy.

-$18,061

Alinma Bank

Saudi Arabia

Ouch. It was never meant to be like this in the region's biggest economy. Alinma bank has its head in the red, announcing an H1 loss of $19m, compared to a net profit of $46m for the same period last year. With 1,052 employees, CEO Abdulmohsen Al Fares is looking at a per-person loss of $18,061, and can't be too happy about the situation. Nevertheless Alinma isn't going anywhere soon: government-owned pension funds are its biggest shareholders with a 30 percent stake while KSA citizens hold 70 percent.