NO. 44


Financial and Banking News

Bank Results

UBK Shows First Half Profits Ahead of Budget

London-based United Bank of Kuwait (UBK) has published half year resultsshowing profits before taxation of 6mn, excluding a write-back fromprovisions of 4.3mn. It is the first time UBK has published half-year figures.The profit figure exceeds the bank's target for the first half. The bank'schairman, Mr. Fahd al-Raj'an, says the step has been taken in view of the uniquebackground of...