Financial and Banking News
REGIONAL BANKING
KIC Posts First Profit for Four Years
The beleaguered Kuwait Investment Company (KIC) finally returned to profitability after three disastrous years, with net income of KD3mn ($10.3) in 1986. Cumulative losses in 1983-85 totalled KD55.2mn ($190mn). KIC's balance sheet, published last week, shows a major restructuring of the state-owned investment company's real estate holdings, with divestments of some KD45mn ($155mn) worth of real...
Please log in to read the rest of this story.
You may purchase access to entire
MEES digital archives by subscribing.
This subscription gives you access to all the content of MEES digital archives up to 1978!