Financial and Banking News
KAB, UGB Earnings Slip
Two Bahrain-based OBUs - Kuwait Asia Bank (KAB) and United Gulf Bank (UGB) - have released 1985 results which show 8 decline in earnings. In the case of KAB, profits slipped 6.7% to $4.9mn after loan loss provisions were increased from $2.5mn to $3.6mn. Total assets increased from $573.7mn to $649.1mn and shareholders equity edged up from $121.89mn to $122.6mn.
At UGB, results have worsened for the second successive...