Financial and Banking News
UGB Declares Loss As Investments Go Sour
Bahrain-based United Gulf Bank (UGB) has declared a loss of $34.6mn for 1990,mainly due to loan provisions and write-downs in the value of investments.Profitability was also damaged by trading losses and poor performance by somemanaged portfolios, which resulted in non-interest income falling to $0.3mn from$11.3mn in 1989. The bank, which is owned by Kuwait Investment Projects Company...
Please log in to read the rest of this story.
You may purchase access to entire MEES digital archives by subscribing. This subscription gives you access to all the content of MEES digital archives up to 1978!