Financial and Banking

REGIONAL BANKING

BBK Provisioning Exceeds $163mn 

The Bank of Bahrain and Kuwait (BBK) is taking loan loss provisions of more than $163mn - twice as much as its paid-in capital - by absorbing the whole of its 1985 net income and arranging a special $143mn guarantee facility provided by its Kuwaiti shareholders. According to a statement by the bank last week made in advance of its full 1985 results, net income dropped 31% to BD7.8mn while total assets declined...