Financial and Banking News
UBK Earnings Recovery Gathers Pace
Profits of the London-based United Bank of Kuwait (UBK) reached a recordlevel of 8.8mn after tax in 1986, continuing the turnaround in profitabilitywhich began in 1985. Pretax earnings also reached a record level of 15.3mn,representing a 24% improvement on the previous year. Behind the improvement inperformance lies an increase in UBK's capital funds, which, including subordinated loans...