NO. 19


Financial and Banking News

Regional Banking

United Bank of Kuwait Announces Unqualified Results for 1990

United Bank of Kuwait (UBK), the London-based Kuwaiti-owned consortium bank,has declared a loss of 9.9mn for 1990, after making an extraordinary charge of13.5mn to cover the costs directly arising from the Gulf crisis. The loss willbe charged to shareholders' funds, which now stand at 169.3mn, equivalent to8.64% of total assets. The bank's accounts are...