Financial And Banking News
Profits Plummet at Two Kuwaiti Banks
Net income at Kuwait's Alahli Bank plummetted by 60.5% in 1985 from KD9.9mn to KD3.91mn, according to the bank's annual financial statement released last week. Income available for appropriation for the year stood at KD4.46mn, 56.1% down on the previous year. Total assets slipped 5.1% from KDl,593.45mn to KDl,511.75mn, while the loan portfolio was 1.4t down at KD778.20mn. Deposits (including...