VOL. XXXIII
NO. 24
19-MARCH-1990
Financial and Banking News
Regional Banking
GIC Profits Surge
The Kuwait-based Gulf Investment Corporation (GIC), which is owned by themember states of the GCC, has announced a 44% increase in profits for 1989, upfrom $38.4mn to $55.3mn. GIC's board has approved an 8% dividend to shareholders(equivalent to $43mn). GIC's total assets grew by 13% in 1989, from $1,717mn to$1,938mn, a growth partly accounted for by the establishement of a $132mn loanportfolio in 1989....
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