Financial and Banking News
NBK Profits Up on Overseas Expansion
The National Bank of Kuwait (NBK), the country's premier private-sectorfinancial institution, has reported record profits of KD35mn ($120mn) for 1989,an increase of 13% over the previous year. The bank cut its cash dividend from22% to 20%, but compensated shareholders with a 15% bonus share issue, comparedwith 13% the previous year. NBK's profits, which are announced after...