Financial and Banking News
NBK Posts Record Profits
The National Bank of Kuwait (NBK) last week announced record profits ofKD30.9mn ($109.4mn) in 1988, representing a 15.9% increase over the previousprofits and the fifth consecutive year of higher profits. The bank announced acash dividend of 22% - the same as in 1987 - together with a bonus share issueequivalent to 13%, up from 10% in the previous year. NBK's Chairman, Mr.Muhammad 'Abd al-Muhsin...