FINANCIAL AND BANKING NEWS
BBK Shows first Profit for Four Years
The beleaguered Bank of Bahrain and Kuwait (BBK), which during the early1980s was one of the high fliers of Gulf banking (recording an astonishing 3.5%return on assets in 1982), and which has recorded no profits since 1985, lastyear made a marginal profit of BD1mn ($2.65mn). The profit was due mainly to thebank's decision to cut its loan loss provisioning from BD29mn to BD8mn, although...
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