NO. 29


Financial and Banking News

Regional Banking

Bank of Bahrain and Kuwait Continues Recovery

Manama-based Bank of Bahrain and Kuwait (BBK) has reported profits for 1989of BD5.1mn, more than five times its profits for 1988. The improvement was aresult of higher operating income (up by BD3.1mn to BD12.3mn) and lowerprovisions (down BD1mn to BD7mn). Nevertheless, the bank still has negative netreserves as a result of heavy provisioning in previous years. Shareholders'...